Gold Gains $16 Overnight as Rally Strengthens says Pan American Metals of Miami

Gold's New Year rally continued and strengthened today, with the price of price of gold surging $16 higher and breaking through key technical levels as the dollar weakened and the euro staged a slight recovery on news that Fitch would not downgrade France's credit rating this year. Although the euro began to climb back, the gains made by gold far outpaced those made by the euro. End Quote

(1888PressRelease) January 11, 2012 - MIAMI, FL- If gold sustains its current rally, those financiers who have maintained the continuation of the price of precious metal's bull market will indeed be justified. Investors looking for a safe place to store their wealth, in light of the European debt crisis and a general slowdown of the global economy, will turn to price of gold bullion, the asset that has repeatedly proven its worth in similar economic crises. Consumer credit in the US rose by more than $20 billion in November, a massive increase not seen since 2001 and more than triple what was forecast. This is, of course, completely separate from the government debt, which shows no signs of decreasing.

"The macroeconomic climate is highly favorable for gold," says price of Bill Hionas of Pan American Metals of Miami. "Fiat currencies are proving themselves increasingly unreliable in terms of maintaining value whereas gold has an intrinsic value that cannot be debased. Debt levels in Europe and the US are clearly unsustainable."

If gold manages to maintain its current rally, then forecasts of $2000 an ounce for 2012 may start to seem conservative and gold bullion should regain its safe-haven status.

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

Press Contact

Debbie Bailey
Executive Administrator
Pan American Metals of Miami, LLC
Email: dbailey ( @ ) investpanam dot com
Website: http://www.panamericanmetalsofmiami.com

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