(1888PressRelease) November 16, 2011 - MIAMI, FL - Many investors may be asking themselves why there has not been a strong move into gold as the European crisis continues. After all, traditionally, gold and silver bullion has provided a safe haven in times of economic turmoil, such as we are currently seeing in Europe, yet gold and silver prices continue to hover.
There are several factors that remain strongly supportive of gold; the central banks of many countries are continuing to stockpile gold bullion and German Chancellor Angela Merkel was quick to assert that Germany's gold reserves should not be used to help fund bailouts. Germany has the second largest gold reserves in the world, after the United States. None of this suggests that gold is to be discounted, or treated like any other commodity; clearly there is faith in gold at the international level.
Gold and silver, along with other precious metals, are still experiencing strong physical demand. Rising car sales have increased demand for platinum and palladium while platinum is also seeing renewed popularity in the jewelry industry due to its current lower price.
"Precious metals have an intrinsic value that enable them to hold their value against paper currencies," says Bill Hionas of Pan American Metals of Miami. "It is surprising to many observers that the European crisis has not caused gold prices to soar due to safe-haven demand; however, market experts still forecast gold to reach $2000 an ounce, possibly by the end of this year."
Pan American Metals of Miami is located in Miami Beach. PAMOM's team of seasoned investors, traders and account executives is available to assist investors with their bullion purchases.
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.
Many factors are underpinning gold. 
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