Pan American Metals Reports Steady Rebound in Gold Prices
Good news for investors as gold continues a steady recovery and palladium holds firm.

MIAMI, FL, May 18, 2011 /24-7PressRelease/ -- Pan American Metals of Miami (PAMOM) is pleased to report further encouraging news from the markets today, Thursday. Market analyst Jim Wyckoff of Kitco News stated that Thursday was a "moral victory for the precious metals bulls as the markets made a strong recovery..." with gold, in particular, showing modest but steady gains. The consensus is that, while investors should remain cautious, gold is definitely holding its own. The combination of a weakening of the dollar and a rise in the price of crude oil supported gold's recovery throughout Thursday's trading. HSBC also predicted a weakened dollar for a while to come, giving further support to future gold prices. Investors may not see the rapid rises of recent months but the trend remains firmly upward with some analysts anticipating $1,675 an ounce for gold within a year.

"Despite all the recent fluctuations, gold still represents a sound hedge against inflation and an excellent long-term choice for the shrewd investor," says Bill Hionas, CEO of Pan American Metals.

While silver and gold have been more newsworthy in recent weeks, palladium has been quietly seeing slow but consistent growth over the last two years and some analysts have predicted $840 an ounce or higher later this year. Palladium has been something of a 'poor relation' in terms of media attention and popularity but the law of supply and demand supports its continued upward trend. Following the furor of the last two weeks, prudent investors should be looking towards modest, but still reliable, gains in the bullion market rather than hoping for short-term profits.

PAMOM shows gold slightly up at$1506 an ounce and palladium currently holding steady at $717.

Press Release Contact Information:

Debbie Bailey
Pan American Metals of Miami
Executive Admin
235 Lincoln Rd.
Miami Beach, Florida
USA 33139
Voice: 305-733-7419
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