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(1888PressRelease) Some central banks have dramatically increased their gold reserves.

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Pan American Metals of Miami says Increased Buying by Central Banks is Supporting Gold

(1888PressRelease) Some central banks have dramatically increased their gold reserves.

MIAMI, FL - There has been an increase of more than 500% in gold buying by central banks during the third quarter of this year compared with the same quarter last year. It is not known which countries' banks are the main purchasers but China and India are the favorite suspects. Emerging economies, particularly in Latin America and Asia, have been buying gold at unprecedented rates. This alone is enough to drive up the price and ensure a continuing bull market for the yellow metal.

According to records, the world's three biggest holders of gold reserves are the US, Germany and, ironically, Italy. China is number 5 and India number 10. Data from the International Monetary Fund states that central banks have bought over 200 tonnes of gold so far this year. Russia, Mexico, Thailand and South Korea have been among the largest net buyers recently.

The popularity of gold bullion with central banks suggests that gold is far from losing its safe-haven status. In fact, it is clear that most nations are stockpiling gold reserves as fast as possible.

"The increase in gold buying by central banks is one of the major factors underpinning the positive outlook for gold prices in the coming months," says Bill Hionas of Pan American Metals of Miami. "This increased demand will obviously be felt in the market."

Pan American Metals has a team of seasoned investors and traders available to assist buyers wishing to purchase gold bullion. Both leveraged and fully funded positions are available.

About us:

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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/pan-american-metals-of-miami-says-increased-buying-by-centra-pr-351800.html