Word: coppers
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Dates: during 1980-1989
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...from its January high of $50.35. Says Thomas Herzig of P.R. Herzig, a Wall Street metals broker: "The play on the silver market was the beginning of deflation. Hunt's situation was not an isolated thing. Silver isn't the only commodity going down; so are platinum, copper and gold. This is part of a general collapse...
...midweek silver was down to $15.80 per oz.; on Thursday it lost roughly a third of its value in a single day, falling as low as $10.20. Stories that Hunt was also selling other commodities touched off a frenzy that hammered prices not only of gold but also of copper, cotton and even cattle. Gold alone, which had reached a preposterous height of $850 per oz. in late January, dropped to a low of $463 last week. In the stock market, further rumors reported that Hunt and his associates were dumping stocks to raise cash in order to repay their...
...past two weeks, as one big oil company after another posted hefty fourth-quarter profits, their stock prices leaped daily. During January, Exxon was up 5¾, to 60⅞, Mobil rose 3⅜, to 58⅜, and others racked up equally impressive rises. Coal, timber and copper producers, which like the oil companies deal in irreplaceable or depletable assets, also showed strong gains...
...some cities, merchants did a curious trade in selling everything from gasoline to bacon for a mere 5? or 10? per gal. or lb.-just so long as customers paid in pre-1965 coins, which were still worth many times face value because of their silver content. Even copper went through contortions. It shone, lost luster, then brightened to $1.30 per lb. If copper reaches $1.50, pennies will be worth more than...
...been jumpy from the moment trading began on Monday morning. The first selling wave came that afternoon, when the New York Commodity Exchange curbed investors from buying or selling new contracts for the future delivery of silver. Later in the week, the Comex took a somewhat similar action on copper futures...