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Gold Looking to Rally
April 23, 2008

Gold Nips at a Rally

There is talk today that Gold needs to get going again or risk a big spill. Gold's lack of movement as crude oil rocketed to new highs near $118 a barrel, may indicate a break in the traditional ties we have been observing over the last year or so.

With the dollar hovering around $1.60 to the Euro and oil rising, gold should have moved upwards into the $950 to $975 range, but buyers seem cautious. Investment money is fickle and some in the numismatic trade are wondering if the attraction has worn off gold.

This mornings spark , with gold skipping upward to about $920 as of this posting, may be the beginning of the overdue rally for precious metals. For the dubious investor, silver may be the better metal to sink into at the moment. As of this posting silver has risen to about $17.70, with high hopes and less apparent downside risk.

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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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