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Gold Futures Dip
May 07, 2008

Gold Future Slip on Dollar Strength

Another bump in the road today, as spot gold and gold futures dipped in the wake of increased strength for the U.S. dollar. Crude oil continues to rule the roost with a top figure of about $122 a barrel. This will be the second day that crude oil is holding at or near this level.

In general it seems clear that the world's economic bases of power are shifting. Buying power is growing in China and India, as disposable income is catching up with the great numbers of their populations. With oil prices high, the centers of gold futures exchange are naturally shifting. Dubai is quick becoming the focal point for gold futures trading. The Dubai Gold & Commodity Exchange has become the center for activity, especially in gold futures. And trading in gold futures increased by about 50% last year.

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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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