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Profit Taking Adjusts Gold to $830 Benchmark
November 09, 2007



A Day to Settle

Profit taking this morning has dipped the spot price of gold and silver, while dropping Platinum nearly 2%. But all precious metals seem to have a pretty solid benchmark and are holding at awesomely high levels. Long-range forecasts are still looking for record-breaking highs before the end of this calendar year.

As a commodity, precious metals, particularly gold, has garnered much media attention lately. However, most investors know that a balanced portfolio is always best for long term stability and growth, so many personal investors are looking for good vehicles to harbor their funds outside the weakening US dollar and unstable stock market. As a result, several large firms are beginning to offer commodities based investment funds, making it easier for the average investor to gain access to various segments of the market with smaller dollar amounts and less knowledge. Commodity indexes are also beginning to pop up in the mainstream, allowing individual investors to track specific areas of personal interest such as energy, agriculture and for the numismatist in us all, precious metals.

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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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