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Precious Metals in Decline
May 01, 2008

Gold on the Down Slide

It's not April Fool's Day, it's May Day! But don't panic yet. Precious metals may still rebound and if you expect this, then now would be a good time to buy.

After the Federal Reserve again lowered interest rates a quarter percent yesterday afternoon gold had a flurry of buying which seemed to strengthen it's hold near $875. This morning however, major selling has driven the most watched of the precious metals down near the $850 range.

Silver is nearing $16.50, with platinum near $1875 and palladium near $400. All are on the decline, with inflation worries hushed for the moment.

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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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