Pan American Metals of Miami says Gold and Silver Rallying, Platinum may be a Bargain
(1888PressRelease) As gold rebounds strongly, platinum to gold ratio falls further.
MIAMI, FL – It is possible that the recent rally in gold may be further encouraged as President Obama proposes new tax legislation that would ensure the wealthy paid higher taxes. This is a move that would likely be supportive of gold, as historically higher taxes for wealthier citizens have led to a bull market for gold bullion. Gold rallied overnight based on bargain hunting, and is now trading in the mid-$1600s.
Platinum has not shared in gold’s good fortune, with the gold/platinum ratio falling again. Looking at historical prices for precious metals bullion, it is very unusual for gold to be trading higher than platinum and the ratio has not been this low since January 1992. This may mean that platinum also attracts bargain hunters. Any investors who have been waiting for dips to buy gold may want to look at platinum also. Platinum is 30 times rarer than gold and is supported by both investment and industrial demand; it is traditionally considered more valuable than gold and it is extremely unlikely that it will remain priced below gold for very long.
Silver, on the other hand, has rebounded along with gold; both metals have seen the biggest rise in price since March 2009. Silver tends to benefit more from investment demand than the platinum group metals due to its role as ‘poor-man’s gold’. Additionally as stocks also rally and optimism begins to return, silver is likely to benefit from increased industrial demand.
“Investors looking for bargains would be well advised to buy now,” says Bill Hionas of Pan American Metals of Miami. “The market is rebounding strongly and these lower prices will not last long.”
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. PAMM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.
Website: http://www.panamericanmetalsofmiami.com
Press Contact
Debbie Bailey
Executive Administrator
Pan American Metals of Miami, LLC
Email: dbailey ( @ ) investpanam dot com
Website: http://www.panamericanmetalsofmiami.com
Source:
http://www.1888pressrelease.com/pan-american-metals-of-miami-says-gold-and-silver-rallying-pr-338427.html
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