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Major Correction in Precious Metals
July 24, 2008

Gold & Crude Oil Lead the Way Down

Investors are experiencing a major correction in all precious metals and crude oil this week. Gold is down below $925 this morning, with silver down to about $17.45, platinum down to about $1715 and palladium around $385. Crude oil has dropped to about $125.

This development is forcing investors, traders and end users to closely examine factors and make tough decisions about what the future might hold for these commodities. Some think the < a href="">10 to 1 ratio of barrels of crude oil to an ounce of gold will swing back, even though it has been twisted out of purpotion lately. Some are questioning if the rise in gold has come to a conclusion and we have nowhere to go but down. Some see this weeks events as a natural low before a late summer rally, providing god opportunites for bargain hunters. The point is, a shift like this has everyone thinking, which is a wonderful thing to behold.

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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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