(1888PressRelease) Market analysts suggest further record highs for gold and silver, even if an agreement is reached in the US debt talks.
MIAMI, FL - TD Securities suggested today that gold could hit $1700 and silver $45 in the near term if the US debt ceiling deal, even assuming it is reached before the deadline, does not show "real, sustainable and predictable deficit reductions". Allen Sykora, of Kitco News, reports that TD Securities believed investors were likely to continue buying gold and silver as a hedge if the debt settlement deal did not prove satisfactory. Conversely, both metals could also show drops if a truly satisfactory agreement were to be reached. However, Bloomberg reported today that the odds of the US failing to reach an agreement in time were 40% with the likelihood of a reduction in the nation's 'AA A' credit rating being around 50%. Other analysts are talking of $1735 for gold in the next few weeks, if not $1800.
The US dollar hit a record low against the Swiss franc, indicating nervousness concerning the apparent impasse in Washington. Most US stocks were also trading lower.
Pan American Metals of Miami offers investors opportunities to purchase gold, silver, platinum and palladium. Those investors looking for a safe haven and wealth protection should be adding precious metals bullion to their portfolios.
"Savvy investors are adding to their precious metals holdings at this time," says Bill Hionas of Pan American Metals of Miami. "Precious metals cannot be devalued in the same way that currency can and predictions are for a continued rise in value. Gold, in particular, is likely to reach further record highs in the coming weeks."
Pan American Metals of Miami has a team of seasoned brokers ready to advise clients on their precious metals investments.
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.
Pan American Metals of Miami, LLC
Email: dbailey ( @ ) investpanam dot com