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Gold & Silver Crash Barriers!
January 09, 2008

Gold Breaks Through For Record High

Amidst economic and political concerns investors ran wildly towards gold and silver today, pushing the spot price of gold as high as $880 before it backed off to $878 as of this posting.

Silver was carried along for the ride, edging up above the $15.70 mark as this is written.

Another day of Dollar dropping must have been just too much for money mavens to stand.

Talk of gold as the world's currency has been circulating around the internet in Blogs and opinion pieces the last few days and more folks seem to be looking at these comments much more seriously than before. As I have mentioned in past postings, gold will continue to swing opposite against the dollar, so look for gold to back off when the dollar has it's good days and drive when it fails.

Current pursuit of gold as an inflation preemptory hedge seems to be at paranoid levels.

Something to add? Notice an error? Comment on this blog.

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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