Gold rallies strongly on favorable reports from Europe.
(1888PressRelease) October 13, 2011 - MIAMI, FL - All the precious metals traded significantly higher again today on a weaker dollar and more encouraging news from Europe. Belief that a viable plan to recapitalize European banks is in place has lent support to the stock market and to gold also. A weaker US dollar also makes gold more affordable in other currencies and therefore helps buoy prices.
Investors, brokers and fund managers, who may have been frightened away from gold when it tanked spectacularly in late September, are moving back into gold, suggesting renewed confidence in precious metals and in gold, especially, as a safe haven. With an asking price for gold, at the time of writing, of around $1680, predictions of $1700 start to look easily achievable.
"Gold's volatility has made a lot of investors nervous," says Bill Hionas of Pan American Metals of Miami. "However, in the medium to long term, gold continues to outperform almost any other asset, providing a perfect insurance policy that will shield investors from potential losses elsewhere."
Certainly, if investors buy gold bullion - and hold on to it - they should definitely be seeing substantial returns on their investment. The key is not to liquidate ones precious metals bullion holdings as soon as a perceived emergency occurs but rather to hold on to them, preserving them as long-term insurance against inflation or even losses from other investments. Prudent investors are diversifying into precious metals and increasing their bullion holdings whenever there is a dip in price. Over time, gold has proven its worth repeatedly.
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.
Gold rallies strongly on favorable reports from Europe. 
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