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Gold Takes a Big Tumble & Silver Comes Tumbling After
March 20, 2008

Gold & Silver On the Big Decline

Many investors were caught somewhat unprotected yesterday as the four major precious metals began to tumble against a stronger dollar, boosted by the Fed's recent rate cut. Major fund sell-off began yesterday and continued overnight and into this morning.

The predicted Gold floor of $940 seemed to be holding true through yesterday afternoon, but overnight and into this morning further sell-offs have pushed Gold downto about $920 as of this posting. Silver dropped about $3 and sits at about $17.30 this morning. Platinum went from more than $2000 an ounce to $1810 as of this posting and Palladium, which had ridden up to about $500 is now at about $425.

Other commodity investment is also experiencing serious correction. Crude oil had been pushed up to a phenomenal $110 at it's peak, but currently has backed off below $100 a barrel.

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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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