Physical buying by bargain hunters helped buoy gold prices.
(1888PressRelease) February 03, 2012 - MIAMI, FL - Gold prices continued to climb, Thursday, despite a stronger US dollar as bargain hunters picked up the slack and kept momentum firmly upwards. Gold broke confidently through the $1750 level and silver also gained, reaching $34.27 an ounce.
Physical buying served to offset a stronger dollar but many investors are awaiting the outcome of talks between Greece and her creditors before jumping back into the market. Gold and silver bullion provide investors with a hedge against the effects of the depreciation of fiat currency.
"Cash in the bank is effectively losing money, since interest rates are lower than the rate of inflation," says Bill Hionas of Pan American Metals of Miami. "Gold and silver offer protection against the depreciation of fiat currencies; precious metals have an intrinsic value that cannot be debased."
In Germany, one of the world's strongest economies, citizens are apparently lining up in the streets to but gold and silver. German citizens will likely be all too aware of the devastating effects of hyperinflation. Enterprising dealers are selling 100 grams (around four ounces) of silver with 'tear-off' strips that could theoretically be used for every day purchases and are seemingly finding no shortage of buyers!
Pan American Metals of Miami is a South Florida precious metals company that trades in gold, silver, platinum and palladium bullion and coins. Both fully funded and leveraged positions are available and clients may take physical possession of their bullion if they so wish.
About us:
Pan American Metals of Miami, LLC is a group of 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
Physical buying by bargain hunters helped buoy gold prices. 
Satisfied Users & 
Approved Press Releases
Print
Email
Report Spam