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(1888PressRelease) Precious metals rose strongly this morning, November 3, against the background of a weaker dollar.

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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 ( @ ) investpanam dot com

Website: http://www.panamericanmetalsofmiami.com

Source:

http://www.1888pressrelease.com/recious-metals-rise-on-more-encouraging-news-from-europe-and-pr-347646.html