As gold ends another week on a high note, it is becoming clear that gold is fighting the dollar for ultimate safe-haven status.
(1888PressRelease) November 14, 2011 - MIAMI, FL - As things settle down, temporarily, in Europe, the euro gains, the dollar loses and gold then gains also. If gold were the ultimate safe haven, then it should rise every time there is discouraging economic news from the euro zone. Yet it seems there is still a great deal of faith in the US dollar as the ultimate refuge. Is this faith justified?
Like all currencies, the dollar is worth the paper it is printed on and the faith that the government printing that paper will honor its value. Gold, on the other hand is worth whatever a buyer is prepared to pay for it. But it is not quite that simple; most people would concede that precious metals have an intrinsic value that cannot possibly be claimed by paper currencies. Governments can, and clearly do, print more money when they find themselves in a tough spot. It is not possible to simply produce more gold; there is a finite supply.
"Gold, like all precious metals has an intrinsic value that cannot be debased in the same way as fiat currencies," says Bill Hionas of Pan American Metals of Miami. "The value of the dollar can, and likely will, decrease at any time. Gold, on the other hand, has proven itself over centuries."
General advice is that at least 10% of a portfolio should be in gold and many investors would suggest that a higher percentage might be justifiable given the current macroeconomic conditions. Not only is investment demand driving up the price of gold, physical demand remains strong also.
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.
Debbie Bailey
Executive Administrator
Pan American Metals of Miami, LLC
Email: dbailey ( @ ) investpanam dot com
Website: http://www.panamericanmetalsofmiami.com
As gold ends another week on a high note, it is becoming clear that gold is fighting the dollar for ultimate safe-haven status. 
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