Gold Drops Past $900
All Precious metals continued their plunge this morning breaking through initial support levels. Gold broke through $900 and sits just above $895 as of this posting. Silver is just below $17.40 and Platinum has fallen just shy of $2040.
prices and a surging U.S. dollar are concerning investors this morning, but I am certain that most will see buying opportunites in the metals arena before the week is finished.
Forecasts are becoming more divergent, with some analysts predicting gold over $1000 an ounce during 2008 and others thinking commodities have peaked. Concerns over a commodity bubble are legitimate, especially when you consider that investment dollars are now in the drivers seat of this bull market. Still, it does not appear that the ride is over yet for gold and it's fellow precious metals.