Pan American Metals of Miami: Precious Metals Rally Following Last Week's Slide

    MIAMI, FL, May 16, 2011 /24-7PressRelease/ -- Thanks in part to buying from bargain hunters, gold and silver both showed significant recovery as markets re-opened Monday, with gold breaking back through the $1500 barrier. Silver prices rose by almost $2 an ounce after some significant losses last week. Analysts agree that long-term investment in gold will see continued profits as gold prices are slated to rise to $1690 this year.

While some of Monday's gains in gold may be due to buying on the part of bargain hunters, the metal is further supported by a rally in the price of crude oil, renewed inflation fears, strong demand from Asia and continued concerns about European debt, particularly in Greece. The weak US dollar also continues to be a contributory factor.

"The gold market remains bullish," says Bill Hionas, CEO of Pan American Metals of Miami (PAMOM). "Underlying economic factors are giving a great deal of support to gold; these factors are not likely to change in the immediate future and we anticipate a further rise in the coming months."

Silver's recovery is also encouraging; though less impressive than gold's, nevertheless silver has shown signs of rebounding also, with analysts predicting further gains during the coming week. Obviously silver's downslide last week was more dramatic than that of gold but it closed Monday within reach of $40 an ounce, with intra-day trading taking it closer to the $50 mark. PAMOM is showing all four precious metals up significantly from last week with gold at $1512 an ounce (up $17), silver at $37.84 (up $2.20), platinum at $1800 (up $11) and palladium at $732 (up $12).

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. PAMOM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.
Website: http://www.investpanam.com

Press Contact
Debbie Bailey
Executive Administrator
Pan American Metals of Miami, LLC
Email: [email protected]
Website: http://www.investpanam.com

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