Platinum and Palladium Share in Precious Metals Rally says Pan American Metals of Miami

1
Platinum and Palladium Share in Precious Metals
Rally says Pan American Metals of Miami
(1888PressRelease)Platinum and palladium rose
significantly this week along with gold and
silver. MIAMI, FL,Amidst the media hype about
the 'renewed' safe-haven status of gold and
silver and their impressive gains this week, one
is left to wonder just what is happening with
platinum and palladium? Interestingly, these
metals also showed significant gains over the
week although, just as with gold and silver, they
corrected slightly today, October 28. Since they
rely more heavily on industrial demand,
macroeconomic concerns would not normally be good
for the platinum group metals. Both platinum and
palladium showed consistent gains this week,
however, with platinum chasing gold, reducing the
gap between the two metals to less than
100. One reason is that both metals have been
subject to increased production costs, which have
risen sharply over the past year. Additionally,
there has been increased demand as more
encouraging news from Europe has restored some
confidence in the market. "This has been an
excellent week for all the precious metals," says
Bill Hionas of Pan American Metals of Miami.
"Gold and silver have both rebounded strongly,
due to both strong physical and safe-haven
demand. Platinum and palladium are also rallying
strongly." Platinum and palladium are both
extremely rare with the majority of ore sources
being in South Africa. At the same time they have
multiple uses in industry platinum is both dense
and malleable, a unique combination, and does not
oxidize at any temperature, making it perfect for
a wide range of industrial purposes. Palladium
has the lowest melting point of the platinum
group metals. Both metals are used extensively in
the automotive industry.
2
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 ( _at_ ) investpanam dot
com Website http//www.panamericanmetalsofmiami.c
om Source http//www.1888pressrelease.com/platin
um-and-palladium-share-in-precious-metals-rally-sa
ys-p-pr-346232.html