(1888PressRelease) Market shows that there is still considerable demand for gold as a safe haven.
MIAMI, FL - Gold prices are still breaking records following an apparent resolution of the US debt crisis. Most people anticipated a drop in the price of gold after an agreement was reached but it appears that there is still considerable concern about the economic situation, both in the US and overseas; as a result, the market is continuing to see considerable investment demand for gold as a safe haven.
It was announced this morning that South Korea had bought 25 tons of gold over the last couple of months at a cost, if this writer's math is correct, in excess of $1.2 billion. Even debt laden Greece has apparently purchased 1000 ounces. If governments are rushing to amass gold as a safe haven it is a pretty fair bet that the individual investor should be doing likewise. It might also, of course, suggest considerable concern about the global economy.
"Gold prices continue to soar to new highs," says Bill Hionas, CEO of Pan American Metals of Miami. "Clearly there are huge concerns about the global economy and governments and individuals alike are rushing to buy as much gold as possible. This is excellent news for those investors with gold bullion holdings."
Pan American Metals of Miami showed gold up $23 at $1643 and silver at over $40, August 2.
"Our clients are very happy with their portfolios at the moment," says Debbie Bailey, executive administrator at Pan American Metals of Miami. "There are a lot of factors supporting a continued rise in gold and silver."
Those interested in investing in the precious metals market should contact Pan American Metals of Miami at www.panamericanmetalsofmiami.com for more information.
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