Gold and silver rebounded strongly this week before showing a slight correction.
(1888PressRelease) October 28, 2011 - MIAMI, FL - As anticipated, gold has seen a slight correction this morning, October 28, due to some profit taking; nevertheless, the price appears to be holding firm in the low-to mid-$1700s, still a huge increase over the week. Silver is also hovering around the $35 mark. Additionally, the euro declined today as concerns over Europe continue, fueled by fears that Italy could be the next country to default. Basically, anyone who thinks that the European crisis is over is sadly delusional; we are looking at a temporary solution at best.
Similarly we should remember that the US economy is also not exactly out of the woods either; in fact there are mutterings that a second credit downgrade could be on the cards unless Congress agrees a long-term plan to solve the nation's debt issues. All in all, the safe haven represented by gold and silver is still very necessary; these metals will not disappoint and this week's activity shows that investment demand is back in full force.
"Gold and silver have always provided a safe haven in times of economic uncertainty," says Bill Hionas of Pan American Metals of Miami. "There are many macroeconomic factors underpinning precious metals, gold and silver in particular; the market continues to be bullish."
Physical demand is also strong at this particular time of the year, further supporting both gold and silver. Apparently, India has launched ATMs that dispense gold and silver coins, jewelry and even diamonds, placing 75 of the machines in retail centers and airports around the country!
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
Gold and silver rebounded strongly this week before showing a slight correction. 
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