Global economic and political situation supports gold and silver as a 'safe haven' investment.
(1888PressRelease) June 08, 2011 - MIAMI, FL - Latest market reports support the continued rise in demand for precious metals, gold and silver, in particular, as a safe haven in view of the global economic and political situation. The weak US job report, issued Friday June 3, coupled with continuing concern over Euro zone debt, served to drive investors toward precious metals. The US jobs report was worse than anticipated and, while the Greek debt crisis may have been avoided for the time being, there is still a weakening of confidence in the Euro.
Gold and silver both closed up today, June 6.
Additionally, the recent election in Peru also supports long-term gains in gold and silver. According to George Gero, vice president with RBC Capital Markets Global Futures, Peruvian President-elect Humala favors governmental control of precious metals mining in Peru, which could lead to a long-term supply deficit. Peru is currently the world's second-largest producer of silver. Unrest in the Middle East and a possible interest rate hike in China also favor precious metals as a 'safe haven' investment choice.
"There is considerable demand at present from investors seeking a safe haven," says Bill Hionas, CEO of Pan American Metals of Miami (PAMM). "We are seeing strong support for gold and silver. Additionally, investors are showing preference for physical bullion."
PAMM offers investors the opportunity to purchase physical bullion, with the option of home delivery or safe-keeping in a nearby repository. PAMM has a group of seasoned traders with decades of shared experience to pass on to their clients. Currently, PAMM is showing gold at $1545 an ounce and silver at $36.75, a rise of $3 and 51 cents respectively.
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. PAMOM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.
Global economic and political situation supports gold and silver as a 'safe haven' investment. 
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