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Gold Jumps, Retail Sales Rise
November 26, 2007

Black Friday a Big Success, Gold Above $825

Post Thanksgiving weekend shoppers dumped a load of cash into the economy. Sales were up more than 7% over last years Black Friday and Saturday combined sales, with the number of shoppers up and the per shopper amounts spent actually down. Purchasing was heavily skewed towards electronics and related items, benefiting Best Buy and Wal-Mart who offered good deals in these areas. We'll see how Amazon does today as Cyber Monday unfolds.

Gold and other precious metals also surged in the post Thanksgiving euphoria, with Gold topping $820 on Friday. This morning Gold is holding very solid above the $825 mark as of this posting, with demand for the world's favorite precious metal quite strong in the Middle East.

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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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