Potential failure of 'super committee' to solve US deficit may be supportive of gold in the long term.
(1888PressRelease) November 21, 2011 - MIAMI, FL - While the investment world has been almost exclusively focused on Europe, the US still has pressing debt issues of its own. It is widely assumed that the 'super committee' will announce their failure to agree on a suitable solution to reduce the US budget deficit. Political ambition and polarized viewpoints are likely to make it difficult for an agreement to be reached.
The US debt burden is far greater than that of any of the European countries, albeit so is the GDP. Additionally, the US seems to be following a similar 'remedy' to that pursued by some of the beleaguered European nations, increasing debt levels with low-interest loans.
The likelihood of the US deficit being just as worrisome as that of so many of the European nations might be all that is needed to send stocks plummeting and gold soaring. It remains to be seen what the news will be from the super committee this week and how it will affect the market.
"The realization that the US has many of the same problems that are plaguing the euro zone may well force investors to ditch the dollar and return to gold as their chosen safe haven," says Bill Hionas of Pan American Metals of Miami. "We could well see a marked increase in the price of gold bullion in the coming week."
Pan American Metals of Miami deals in gold, silver, platinum and palladium. Clients can take physical delivery of their bullion if they so choose.
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.
Debbie Bailey
Executive Administrator
Pan American Metals of Miami, LLC
Email: dbailey ( @ ) investpanam dot com
Website: http://www.panamericanmetalsofmiami.com
Potential failure of 'super committee' to solve US deficit may be supportive of gold in the long term. 
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