Precious metals ended the third week of the year on a strong note.
(1888PressRelease) January 23, 2012 - MIAMI, FL - All precious metals showed strong gains going into the weekend with gold at $1667, a gain of almost $10, silver at $30.80, platinum at $1538.50, a gain of $14 and palladium falling just a quarter short of $670 at $669.75.
Demand for new cars, both in the US and from emerging economies such as China and India, where recent demand has been huge, could push up prices for the platinum group metals, particularly as the year progresses and supplies are threatened. Russian stockpiles of palladium are particularly causing concern.
"The market is ultimately driven by supply and demand and we see supplies of both palladium and platinum under threat," says Bill Hionas of Pan American Metals of Miami. "Both metals are extremely rare and experience strong demand from the automotive industry, where they are used in the manufacture of catalytic converters. If we see continued growth in this industry, then we can expect to see a noticeable surge in the price of platinum and palladium."
While platinum is still trading lower than gold, it is showing signs of catching up. Traditionally, platinum has traded at a premium to gold, due to its rarity. Ironically, its current lower price has made it more attractive to the jewelry industry where it now provides a cheaper alternative to gold. At the time of writing, platinum remains approximately $128 dollars an ounce below the price of gold.
Pan American Metals of Miami trades in precious metals bullion: gold, silver, platinum and palladium.
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
Precious metals ended the third week of the year on a strong note. 
Satisfied Users & 
Approved Press Releases
Print
Email
Report Spam