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.
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/platinum-and-palladium-share-in-precious-metals-rally-says-p-pr-346232.html