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Gold Continues Plunge
May 28, 2008

Gold Drops Past $900

All precious metals continued their plunge this morning breaking through initial support levels. Gold broke through $900 and sits just above $895 as of this posting. Silver is just below $17.40 and Platinum has fallen just shy of $2040.

Slipping crude oil prices and a surging U.S. dollar are concerning investors this morning, but I am certain that most will see buying opportunites in the metals arena before the week is finished.

Forecasts are becoming more divergent, with some analysts predicting commodities have peaked. Concerns over a commodity bubble are legitimate, especially when you consider that investment dollars are now in the Email to friend   Print

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About the Author
Tom Michael has been Krause Publications primary market analyst on more than 80 world and United States coin catalogs produced over the last 20 years. He came to KP in 1987 with a bachelor of arts degree in history, a master of arts degree in economics and a history of coin collecting stretching back to the 1960s. He began collecting world coins as a child by asking friends and relatives to bring coins back from overseas trips, visiting flea markets and having his mother watch for foreign coins in her register at the local grocery store. Today he works with a dedicated base of over 200 contributors to provide accurate market values for the five-volume Standard Catalog of World Coins series, as well as many specialty catalogs, including Coins & Currency of the Middle East and the fifth edition of Unusual World Coins.

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