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Falling Gold from Fleeing Speculators
November 12, 2007



Gold in Free-Fall

The U.S. dollar rallied this morning throwing gold into a free-fall, dropping spot below the $800 mark shortly before rebounding a bit to the $804. Silver, platinum and Palladium are all being effected; with Platinum hit the worst, falling below the $1400 ledge.

Other aggravating factors in today's precious metals plunge include a stronger Yen and slipping crude oil. Investors seem to be fleeing any commodity with a perceived high-risk level and futures for precious metals have been hit severely. Consider this a wake-up call for more caution in this bandwagon atmosphere.

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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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