Scene is Set for a Rally in All Precious Metals says Pan American Metals
(1888PressRelease) Silver futures are on the rise and increased automotive demand should be bullish for platinum and palladium.
MIAMI, FL – While gold is still finding its level in the aftermath of strong discount buying, silver futures are rising in Asia today based on speculative buying, apparently supporting a bullish trend for silver also.
There are still many factors supporting a continued rally for gold. Not only is the debt crisis in Europe far from reaching any kind of satisfactory conclusion, but growth figures in the US are also disappointing and recovery in the housing market has been exceptionally slow, renewing fears of a double-dip recession. Platinum is continuing to lag behind gold, suffering from steep margin hikes, although losses in the platinum group metals may be offset by a double-digit increase in US car sales, which will increase demand.
“It is very unusual for platinum to be trading at a level so far below gold,” says Bill Hionas of Pan American Metals of Miami. “Increased demand from the automotive industry should result in a rebound for platinum and palladium.”
Meanwhile there are growing issues with black market gold buying and France and Austria have already placed restrictions on people buying gold for cash. There has apparently been widespread buying of gold with black market cash, with no paper or electronic records of purchases. This is hardly surprising perhaps; while poorer people are selling their jewelry to cover basic needs, less respectable citizens are buying precious metals for cash, using this as a way to launder money; consequently other governments are considering restricting the amount of gold that can be bought for cash.
On balance, all signs point to a bull market for the precious metals in the mid- to long-term. Safe-haven demand will push gold, in particular, back to previous highs and probably beyond.
About us:
Pan American Metals of Miami, LLC is a group of traders, investors and account executives 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/scene-is-set-for-a-rally-in-all-precious-metals-says-pan-ame-pr-340318.html
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