This article was written two days before the latest slump in the price of precious metals. I think Mr. Greenspan knows what he is talking about though. For those of us who buy precious metals scrap, a drop in price only means that we can get more metal for our money. Ten years ago on November 1, 2004 the spot price of gold was $429 per ounce. It closed Friday at about $1174. Am I worried? Nope. It’s a good buying opportunity.