As gold becomes more expensive, silver becomes more attractive as a safe haven.
(1888PressRelease) August 18, 2011 - MIAMI, FL - As gold inches towards $1800 an ounce, silver is beginning to play 'catch-up', trading just above $40. Silver benefits from its association as 'poor man's gold' so is a likely alternative as a safe haven if or when gold prices soar out of reach of the smaller investor. Since silver also sees over half of its demand coming from industry, it has lacked some of gold's attraction as a safe haven; if the economy slows down then it is anticipated that industrial demand for silver would slow also. However, as gold rises to ever more dizzy heights, $40 silver starts to look very attractive.
Gold's dizzying rise ran out of steam a little today as equities continue to rise, renewing faith in the dollar. Nevertheless, a combination of the gold-buying season in Asia and rumors of increased inflation in the US should help push gold over the $1800 barrier any day now. Fall is the wedding season in Asia and gold is traditionally given as gifts causing demand to soar; the last third of the year has historically been a strong buying period for gold and could well cause gold to reach prices close to $2000.
"There is still plenty of room for gold to rise," says Bill Hionas, CEO of Pan American Metals of Miami. "There has been some profit taking as the dust has settled on the equities markets but we are heading into prime gold-buying season and anticipate a sharp rise in price in the coming weeks."
Pan American Metals of Miami offers opportunities to purchase both silver and gold bullion. Investors may take physical delivery of their bullion if they wish, or choose to have it stored in a repository for safe keeping.
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.
As gold becomes more expensive, silver becomes more attractive as a safe haven. 
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