Precious metals rally strengthens with renewed optimism from Europe.
(1888PressRelease) January 28, 2012 - MIAMI, FL - Gold and silver prices continued their rally, Friday, as the dollar lost ground following news from the Federal Open Market Committee that interest rates would remain low until late 2014. The euro rose above $1.31 amidst renewed optimism regarding Greece's talks with her creditors.
Gold's extended rally may well provoke some profit taking but the news that low interest rates will continue for almost three years, and the accompanying fears of inflation, have caused the dollar to lose ground and gold to regain its place as the preferred safe-haven investment. With 'real' interest rates in negative territory for a prolonged period, the dollar has definitely lost its appeal to investors, particularly when we also factor in the debt issues that the US itself has. If we pay off debt by simply printing money, what does that say about the value of the currency?
"The Federal Reserve is effectively devaluing the dollar by keeping interest rates low for such a long period," says Bill Hionas, CEO of Pan American Metals of Miami, a South Florida precious metals company. "Gold and silver, which have intrinsic value and cannot be similarly debased, offer protection against inflation and a safe place for investors to store wealth."
The price of silver has also taken a strong upward trend, reaching intra-day highs of $34, Friday, as investors rush to buy precious metals bullion and traders detect that the change in direction is solid and likely to gain strength.
About us:
Pan American Metals of Miami, LLC is a group of traders, investors and account executives that combines many years of experience to help clients invest in bullion. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.
Website: http://www.panamericanmetalsofmiami.com
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Debbie Bailey
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Pan American Metals of Miami, LLC
Email: dbailey ( @ ) investpanam dot com
Website: http://www.panamericanmetalsofmiami.com
Precious metals rally strengthens with renewed optimism from Europe. 
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