Gold's Safe-Haven Status is Restored

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Gold's Safe-Haven Status is Restored (1888PressRelease) Continued uncertainty in Europe should bode well for gold market. MIAMI, FL - Those investors who held firm, refusing to panic as gold prices dropped and then hovered in the low $1600s, will no doubt be congratulating themselves on their restraint today as prices head back within reach of $1700. A word of caution may be called for however. If we have seen anything in the last few months it has been a pattern of volatility and we should all realize by now that the situation can change in a heartbeat. Today's strong recovery results from renewed fears over debt contagion as it seems a viable solution to the euro zone issues is extremely uncertain, to say the least. Added to this are disappointing growth figures in the US, leading many investors desperately seeking a safe haven for wealth protection. All of this is good news for holders of gold bullion but what happens following a major rally in price? Generally we see profit taking and the price gets pushed down again. So is it all doom and gloom? Not necessarily. It will be interesting to see if gold prices can break back through $1700 - and stay there. However, we should not assume there will be no further corrections. That said, the overall trend does seem to be set upward once again; prudent investors should continue to hold on to their bullion, ignoring any sell offs; the market may correct but it will likely then continue to rise, especially as long as the European debacle continues. "Macroeconomic factors are strongly supportive of gold as a safe haven," says Bill Hionas of Pan American Metals of Miami. "We may see continued volatility but clearly gold is the preferred refuge when economic news is disappointing."

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Pan American Metals of Miami, located at the financial hub of North and South America, offers clients the opportunity to invest in precious metals bullion: gold, silver, platinum and palladium. About us: Pan American Metals of Miami, LLC is a group of traders, investors and account executives that combines 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/gold-s-safe-haven-status-is-restored-pr-345678.html