Gold and Silver Rocket Back!
October 29, 2007
Precious Metals Surge
All of us in numismatics remember that brief over-indulgent period from 1979 to 1980 when Gold shot well above $800 an ounce and turned the collecting hobby and the investment world on their ears. Coin dealers called it "The Party" and fortunes were made and lost through the winter months.
Today Gold climbed more than $17 to get past the $780 mark. As of this posting Gold is at $785, a 27 year high for the worlds metal of choice.
The correction of this past Monday most likely was viewed as a buying opportunity by many investors as soon as oil began to rise and the dollar to fall against the euro once again. Crude oil hit $92 a barrel on Friday while the Euro grew to nearly 1.44 to the dollar.
The continuing bull run of precious metals has also driven silver up to $14.25 as of this posting, with Platinum, Palladium and copper all following suit.
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