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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