(1888PressRelease) Continuing impasse in debt ceiling talks has traders nervous but supports gold and silver as a safe haven investment.
MIAMI, FL - There appears to be a state of nervousness around the gold market just now. No one is taking any risks as the world waits for the outcome of the impasse in Washington over the US debt crisis. Gold is very much the 'go-to' asset at times like this; should a default be allowed to happen the ramifications would severely shake the economy and all commodities would fall sharply, gold included - though it would arguably rebound faster than other commodities. However, this remains an unlikely scenario and the type of plan that is eventually passed to deal with the debt ceiling will be the deciding factor for the future of gold prices.
One thing seems fairly certain, the longer the politicians keep the nation, and the world in suspense, the higher gold is likely to rise. There are already rumors of a technical default and a downgrading of America's excellent credit rating, even when, or if, a suitable compromise is agreed on. With John Boehner's plan coming up short, gold and silver both saw a rise in price Wednesday, July 27.
Pan American Metals of Miami sees considerable safe haven interest in precious metals, gold in particular, at present as investors seek protection against the ongoing uncertainty. Stocks and commodities are sliding as the impasse continues, leading people to steer away from riskier investments.
"Precious metals bullion makes an excellent addition to any portfolio, especially at times of uncertainty such as we are experiencing at the moment," says Bill Hionas of Pan American Metals of Miami.
PAMM offers both fully-funded and leveraged positions in gold, silver, platinum and palladium and has a team of seasoned brokers available to advise clients.
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