Word: bullion
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...market turmoil intensified, small investors found it increasingly difficult to buy or sell gold or silver coins. Normally, dealers provide price quotes over the phone, with the quote remaining in force at least until the next price "fixing" on a major bullion market. But last week, investors had to go to a dealer's shop in person and take their chances with whatever price prevailed at the moment. The difference could have been as much as $50 or even $70 in a single hour. Some dealers even refused to buy any gold or silver. Their inventories were already bloated...
...first market to open for business on Tuesday, continued to bid up both gold and silver. But prices on the London and Zurich markets, which opened hours later, plunged. The slide was accelerated by West German bank supervisors, who ordered banks in that country to limit their investment in bullion and other precious metals to no more than 30% of the net asset value of the shareholders' equity. Thus some big West German banks, such as Dresdner and the Commerzbank, eventually might be forced to sell some of their huge gold and silver holdings, thereby helping to depress...
With the refs calling fouls as fast as gold speculators hoarding bullion, Harvard went up, 12-8, on perhaps its prettiest play of the season. Freshman sixth man Cal Dixon streaked downcourt on a fast break, and dropped a delicate behind-the-back pass to Don Fleming, who contributed a dunk to complete the picture play...
...Bullion goes berserk as investors chase it to mid highs
...While bullion buffs have been ringing up spectacular profits, Dallas Megamillionaire Nelson Bunker Hunt, 53, should have been quietly humming Silver Threads Among the Gold. As the nation's paramount silver hoarder. Hunt and at least one brother, William Herbert Hunt, have amassed a new Comstock Lode. Over the past nine months they have earned an estimated $2 billion to $4 billion, and one former business associate sets the Hunts' silver holdings at 100 million oz. Even for a man who could play Monopoly with real money, the silver boom is stunning...