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Gold Support Short Lived - Drops to $850
August 08, 2008

Gold Experiences Freefall to $850 Level

Morning trading has shown us that Gold's light support at the $875 level has given way with spot gold dropping down to the $850 level. Silver is down to about $15.40, palladium is sitting around $330 and Platinum is trading at about $1540.

Looks like a vicious ending to a very tough week for bullion investors. Check The Bullion Desk for current updates.

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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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