Precious Metals Rise on more Encouraging News from Europe and a Weaker Dollar says Pan American Metals of Miami

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Precious Metals Rise on more Encouraging News
from Europe and a Weaker Dollar says Pan American
Metals of Miami
(1888PressRelease) Precious metals rose strongly
this morning, November 3, against the background
of a weaker dollar. MIAMI, FL - News that the
Greek referendum may not happen after all helped
buoy investor confidence, resulting in a stronger
euro. Nevertheless, the EU looks to be in serious
trouble, even if its planned bailout of Greece is
successful. Many of the member countries have
frightening debt levels and disappointing growth
figures, with the UK now looking as if it is
about to sink into a recession. However, news
that Greek Prime Minister George Papandreou may
be forced to resign and the bailout may be back
on, restored confidence for now and all four
precious metals rebounded sharply with gold
reaching over 1760. In the long term, should the
European situation worsen, causing a flight to
safety, the intrinsic value of precious metals
will begin to look very attractive as a safe
haven. "The rarity, beauty and functionality of
the precious metals give them an intrinsic value
that makes them preferable to paper currencies,"
says Bill Hionas of Pan American Metals of Miami.
"While fiat currencies depend on the performance
of the governments that back them, precious
metals bullion has a value that cannot be
debased." Investors are now focused on the G-20
summit in Europe and the first meeting of the
European Central Bank under its new leadership.
Macroeconomic factors are likely to be supportive
of gold and silver based on investment demand.
Additionally, physical demand from India remains
strong as that nation moves into wedding season.
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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/reciou
s-metals-rise-on-more-encouraging-news-from-europe
-and-pr-347646.html