The metals get punished
Posted by
Rob |
September 9, 2008 .
All across the board, precious metals took a beating today. Here are the final numbers:
- Gold: $777
- Silver: $11.26
- Platinum: $1216
- Palladium: $230
Quite the opposite of when I was expecting. At this point one has to ask – how low can they go? It isn’t too far-fetched to say we’ll see gold dip into the low 700 range this week. Silver could dip well into the $10′s. Platinum has mid $1000′s written all over it – and Pallladium could be a sub $200 metal very soon.
The last few weeks have been brutal for holders of precious metals – worse than I’ve seen since becoming an investor. If your hands are strong, hold on – but hold on tight. The ride will be bumpy.
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