Pan American Metals of Miami Investors Advised to Hold Firm as Bin Laden's Death Produces Drop in Metals Prices

Pan American Metals warns investors against panic in the wake of the news of Osama Bin Laden's death.

2011-05-04

MIAMI, FL, May 04, 2011 (Press-News.org) News of the death of Osama Bin Laden has not brought quite such good news to investors in the precious metals market, but Bill Hionas, CEO of Pan American Metals of Miami, assures investors that Monday's slide does not mean the silver bubble has burst.

"There will always be fluctuations in the commodities market," says Bill Hionas. "News of Bin Laden's death has understandably produced a strengthening in the value of the US dollar and a corresponding weakness in precious metals prices. However, savvy investors will understand this to be a temporary glitch and will hold firm."

Silver prices slid over 10% overnight, but an increase in futures margins has already caused some recovery.

Gold has fared slightly better than silver, dropping just 2% following the news of Bin Laden's death. At close of trading on Monday, gold was slightly up at $1557.10 an ounce while silver closed at $46.08, a drop of 5% from last week's highs.

Additionally, Monday May 2 is a public holiday in the UK and much of Europe and Asia, which further serves to skew figures. Despite the temporary effect of the dramatic news, the underlying conditions affecting the market have not changed. Inflation fears remain real as does the constant demand for silver, and also palladium and platinum, not only for jewelry or minting coins, but also for industrial purposes. Says Bill Hionas, "If anything, this provides a chance for investors to buy silver on the rebound, before prices rise again."

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. PAMOM provides an individual investment service and is based in Miami, Florida for convenient access to both North and South American investors.
Website: http://www.investpanam.com

Press Contact
Debbie Bailey
Executive Administrator
Pan American Metals of Miami, LLC
Email: invest@investpanam.com
Website: http://www.investpanam.com

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