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Gold Again Slips Below $900
August 05, 2008



Gold Slips Below $900 Again

Once again the Monday morning blues have hit precious metals, driving gold down below $900 and silver back down to $17. A present spot gold is trading at $897.

Last Monday the same cycle occured and we spent the rest of the week watching gold build back up to about $920 by weeks end. Now we'll see what this week has to offer.

The annual American Numismatic Association convention was held last week in Baltimre and from early reports it seems to have been a successful show. From the world coin end of the market I heard nothing but good talk and excited outlooks. Seems that most dealers are seeing good potential for continued increases in value for most classic world coins. Every time period from Medieval to modern issue has a following and each are experiencing healthy demand.

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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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