Gold and silver holding firm as euro slides and US inflation increases.
(1888PressRelease) June 22, 2011 - MIAMI, FL - Gold and silver prices continued to rebound Wednesday, June 15, as the euro seemed to be in free-fall and US inflation was on the increase. The euro slipped badly following rumors of the Greek prime minister's impending resignation, driving more investors to seek 'safe haven' in precious metals. At the same time, consumer prices rose 3.6% in the US in May, fueling fears of increased inflation. However, a rally in the US dollar and a drop in the price of crude oil, balanced out much of the gains.
Traditionally, prices slump during the summer months, picking up again at the start of fall, but this year the slump has yet to happen as various factors are causing gold and silver to hold steady.
"Much of the activity in the market at present is due to investors buying as a hedge against inflation," says Bill Hionas of Pan American Metals of Miami (PAMM). "The situation in both Europe and the US has people nervous."
The long-term trend for gold has been solidly upward for some months now, allowing for short-term dips and corrections. Some analysts mention figures as high as $5000 an ounce for gold by 2020.
"Our investors appreciate the long-term security offered by precious metals bullion," says Debbie Bailey, executive administrator of PAMM. "They are buying something that has intrinsic value, a value that has stood the test of time."
PAMM is located in Miami, at the hub of the Central and South American market, well positioned for global investors, and has a team of seasoned brokers to assist clients. PAMM was showing gold up $6 at $1531 June 15, with silver up 31 cents at $35.78.
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. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.
Gold and silver holding firm as euro slides and US inflation increases. 
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