December 12, 1987 |
The dollar stumbled lower again Friday, but light trading in the currency markets may have spared the currency even greater damage, analysts said. Gold prices continued their ascent. At Republic National Bank of New York, gold bullion was quoted at $497.25 an ounce at 4 p.m. EST, up from $493.50 late Thursday. The domestic foreign exchange market was quiet, compared to the violent move of Thursday, when the government announced a record shortfall in U.S. trade during October. The $17.
August 20, 1987 |
The dollar continued to plunge in nervous, active trading Wednesday, declining to a two-month low against the Japanese yen and resisting any efforts for a possible rebound. Gold prices also retreated. Republic National Bank of New York at 4 p.m. EDT quoted gold bullion at $458 an ounce, down $1 from late Tuesday. Traders said the market has been bearish on the dollar ever since Friday's U.S. trade deficit report, which showed a widening shortfall of $15.
February 12, 1988 |
The dollar turned mixed Thursday on worldwide foreign exchanges as dealers awaited the December merchandise trade report from the Commerce Department. Currency dealers said internal influences continued to dominate the markets, although most of the attention centered on the release of the December trade data this morning. In London, the British pound fell to $1.7595 from $1.7640 late Wednesday. Sterling fetched $1.76075 in New York, up from $1.75775.
March 19, 1985 |
Gold prices soared to three-month highs today as a result of worries about the U.S. banking system and the stepped up fighting between Iran and Iraq. Meanwhile, the dollar continued its sharp retreat. Gold, which had tumbled to a 5 1/2-year low of $282 an ounce as recently as Feb. 25, briefly flirted with $320 an ounce Tuesday in Zurich, Switzerland. In Zurich, gold bullion finished the day at a bid of $317.50 an ounce, up from $299 late Monday and $291 at the end of last week.
December 21, 1985 |
Expectations of lower interest rates and mixed signals on the U.S. economy pushed the dollar lower late Friday against all major currencies. The price of gold bullion was higher in most markets. Republic National Bank of New York said gold was bid at $325.50 an ounce at 4 p.m. EST, up $1.25 from late Thursday's bid. The Federal Reserve added funds to the U.S. banking system for a second straight day Friday by arranging the temporary purchase of government securities.
February 26, 1985 |
The dollar staged a broad and powerful advance Monday to extend its historic rally as European central banks apparently refused to intervene against the currency's surge. It was the 15th record-setting day for the dollar out of 17 business days this month, a performance that caused an astonished trader in Frankfurt, West Germany, to exclaim: "Every morning when we come in, the previous day's closing price looks cheap." As the dollar resumed its climb, gold prices tumbled to a 5 1/2-year low.
March 27, 1985 |
The dollar staged a broad retreat Tuesday, undercut by falling interest rates in the United States and renewed concern abroad about the stability of the American banking system. As the dollar resumed last week's sell-off following a two-day pause, gold prices rose. Republic National Bank in New York said gold bullion was bid at $324 an ounce, up $8 from the late bid Monday.
April 24, 1986 |
One of the adjuncts of numismatics is the bullion coin. The conventional coin hobbyist collects coins in series or by countries or denominations. They are treasured for their rarity, condition and beauty. Many investors find them attractive because virtually all denominations have shown growth potential and profitability. So where does bullion fit in? Unlike collector pieces, bullion appeals to investors who wish to diversify their portfolio.
November 13, 2003 |
Gold soared to a 7 1/2-year high in New York on Wednesday, fueled by a weaker dollar, a terrorist attack in Iraq and by more speculators hopping aboard the metal's latest rally. Gains in gold, silver, wheat and corn helped push a key index of commodity prices to its highest level in at least six years. Near-term gold futures jumped $6.80 to $394.90 an ounce, highest since spring 1996. The metal has been rallying in fits and starts since early in 2001, when the price was about $255 an ounce.
October 2, 2005 |
The last time an ounce of gold cost $470, Alan Greenspan was in his first year as chairman of the Federal Reserve. Seventeen years later, Greenspan is on the verge of retiring -- and the metal finally is back to its late-1980s price level, after a long, long bear market. The gold/Greenspan convergence is raising suspicions on Wall Street. Some believe the metal's revival must be saying something about the economy the Fed chief is leaving to his as-yet unnamed successor.