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Gold Drops as Dollar Climbs
January 16, 2008

Gold Drops below $900

An overdue correction to rising gold spot price hit this afternoon and has gold down to $888 as of this posting.

Look at this as a healthy solidification of a market that had risen too far too fast. Just a little life in the U.S. dollar brought about this turn. Whenever a market is that thin and touchy, everyone should be careful.

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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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