Nervousness regarding possible QE3 helps boost gold.
(1888PressRelease) August 30, 2011 - MIAMI, FL - Hints of future quantitative easing from Chicago Federal Reserve President Charles Evans helped gold's rally today, August 30. Obviously Evans is only one of many voters, but his statement does renew speculation that a further round of quantitative easing may be on the cards, especially following Ben Bernanke's statement last Friday.
All precious metals were on the rise today with gold rallying to levels comfortably over $1800 and silver gaining 77 cents. S&P's downgrading of growth estimates for the euro zone countries also helped push gold prices higher. After the volatility that hit precious metals last week, it seems investors are once again looking for safe havens. Add to this the start of seasonal gold buying in India and other Asian and Middle Eastern countries and support factors for gold remain pretty firm.
"Last week's correction was both necessary and healthy," says Bill Hionas of Pan American Metals of Miami. "Gold is rebounding strongly and silver has also seen significant gains."
Gold is the primary safe haven choice for investors, having been historically proven to hold its value in times of economic uncertainty. Silver, providing a more accessible entry point for investors, also benefits from safe haven investment. All precious metals have intrinsic value and are attractive to investors seeking a hedge against global economic concerns.
Pan American Metals of Miami, operating in Miami Beach, is ideally located at the financial hub of North, Central and South America. Pan American Metals of Miami offers investors opportunities to buy precious metals bullion: gold, silver, platinum and palladium. All four metals were showing gains today.
About us:
Pan American Metals of Miami, LLC is a group of traders, investors and brokers who combine 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.
Nervousness regarding possible QE3 helps boost gold. 
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