Pan American Metals of Miami Reports Announcement from Washington on Debt Deal Making Little Difference to Gold

Pan American Metals of Miami Reports Announcement from
Washington on Debt Deal Making Little Difference to Gold
(1888PressRelease) Gold holds its ground in the wake of news from Washington.
(1888PressRelease) MIAMI, FL - The world breathed a collective sigh of relief after
Washington announced last night that agreement had been reached on a bipartisan deal
to raise the debt ceiling and avoid default. The news will come as little surprise to most;
while the eleventh hour decision caused considerable nervousness in the markets, not to
have reached a deal would have been political and economic suicide. However, the
announcement that a satisfactory agreement had been reached in time to stave off a
default understandably caused a slight downslide in the price of gold, which had risen
sharply last week on safe haven buying.

Nevertheless, it seems that the precious metal may well hold its ground; there are many
remaining issues to support a continued bull run for gold. Despite the promised
agreement, there are still concerns over the possible loss of America's triple A credit
rating and these concerns will not necessarily be laid to rest any time soon. A drop in
the nation's credit rating would cause interest rates to rise and would have a domino
effect on the economy. It is also doubtful whether the agreement, which still has to be
passed in the House, actually offers much to benefit America's fiscal situation in the
long term.
At the same time, the debt crisis in Europe continues and demand for gold from Asia
continues to surge. The agreement in Washington is certainly not going to solve all the
global issues overnight and there are many factors supporting a continued rise for gold.

"Gold represents safety in a time of continuing economic uncertainty," says Bill Hionas
of Pan American Metals of Miami. "Prudent investors will be adding to their gold
bullion holdings; gold still has a lot of things going for it."

Pan American Metals of Miami showed gold today at $1628. PAMM offers investors
both fully-funded and leveraged positions.

About us:
Pan American Metals of Miami, LLC is a group of traders, investors and brokers who
combine 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

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Executive Administrator
Pan American Metals of Miami, LLC
Email: dbailey ( @ ) investpanam dot com
Website: http://www.panamericanmetalsofmiami.com
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