June 10, 1987 |
The dollar slipped further against major currencies Tuesday, extending its decline of the past several days as traders began looking past the Venice economic summit to coming U.S. trade and inflation figures. Gold prices rose. Republic National Bank in New York quoted a bid for gold bullion of $457.75 an ounce, up from $449.25 late Monday. Depressing the dollar were expectations that, in light of few new developments at the summit meeting, U.S.
December 14, 1989 |
Gold futures prices fell sharply Wednesday on New York's Commodity Exchange as the Soviet Union rejected reforms that many investors had hoped would lead to a gold-backed Soviet currency. Futures prices of silver and platinum also plunged, frustrating speculators in the increasingly volatile precious metals markets. Gold futures fell $9.80 to $10.80, with the contract for delivery in December settling $9.80 lower at $408.10 an ounce; silver finished 12.8 to 13.
March 17, 1988 |
The dollar firmed slightly against most major currencies Wednesday, but traders remained cautious in advance of new trade data to be released today. Gold prices edged lower in domestic trading after climbing overseas. Republic National Bank of New York said gold was bid at $445 an ounce as of 4 p.m. EST, down $1 from late Tuesday. Analysts said the foreign exchange markets remained relatively quiet in anticipation of the government's January trade figures.
September 24, 1985 |
The U.S. dollar stabilized in early trading today, a day after its biggest one-day slide in more than 12 years. Gold prices gained. By the time markets opened in Europe, the dollar had steadied. It was trading at higher levels than the depths it reached in U.S. trading but was mixed in comparison with Monday's earlier European close. Still, the West German Bundesbank sold $46.6 million at the daily fixing. There was no intervention, however, on the open market.
April 3, 1987 |
The dollar weakened against most major currencies in late trading Thursday, stifling a midweek rebound from historic lows. Dealers said the market was still mostly bearish on the U.S. currency, despite its upward movement Tuesday and Wednesday. Gold prices were mostly higher. At Republic National Bank, gold bullion was bid at $418 an ounce at 4 p.m. EST, up from $417.20 on Wednesday. The dollar fell to 146.50 yen in late New York trading, from 147.05 Wednesday.
May 11, 1988 |
The dollar edged lower against major foreign currencies in quiet trading Tuesday as the British pound continued to climb. Gold prices rose again. Republic National Bank of New York reported a late bid of $449.60 an ounce, up from $447.30 late Monday and $443.25 last Friday. Traders continued to focus on the British pound because it was the only currency that did not seem to be locked into a narrow trading range. Investors have been attracted to sterling because of high British interest rates.
September 18, 2008 |
Merchants in downtown Los Angeles' Jewelry District gritted their teeth Wednesday as the price of gold soared $70.10 an ounce -- the highest-ever one-day gain in dollars -- and dashed even slim hopes that the struggling economy hadn't wiped out all customers. A gold chain that cost $450 last year at Acapulco Jewelry now costs $1,000 -- and isn't likely to be sold soon, said owner Raymond Cohan. "The economy's so bad customers can't even pay their mortgages.
May 24, 1988 |
The price of gold continued to rise Monday as the dollar drooped slightly against several major currencies in thin trading. Republic National Bank of New York said gold was bid at $460.30 an ounce as of 4 p.m. EDT, up from $456.25 late Friday. Platinum jumped $17.30 an ounce to $581.90 Monday on the New York Mercantile Exchange. That was in reaction to renewed rumors that right-wing elements in South Africa would succeed in cutting off sales of strategic metals to the United States, Koppel said.