Word: golding
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Dates: during 1970-1979
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Those who trade in gold should logically be as euphoric as Forty-Niners striking a new lode. But logic does not govern this market. "It's terrible now," says Richard Lowrance, 23, a trader who fills customers' orders at the Chicago Mercantile Exchange. "Since gold went over $350 an ounce, the volatility has increased fivefold. Our volume has dropped...
While Lowrance glooms over gold's fickle ways, he is suddenly surrounded by gold-jacketed runners and other traders clad in bright red, green and purple coats. They talk excitedly about a broker's blunder: the man has made a mistake in filling out a customer's order, and it will cost him $2,500. A runner asks: "Does that mean we won't be going out to dinner tonight?" "No," answers a trader. "It just means we'll be going to McDonald...
...nation's money markets, large certificates of deposit and other short-term instruments quickly matched the one-point rise in the discount rate. See story on page 2. Foreign-exchange traders, happy about the Fed's actions, sent the U.S. dollar up by 2%; gold fell more than $17 an ounce. See story on page 3. But the U.S. stock, bond and commodities markets were less sanguine. See stories on pages...
...concrete terms, the weekend vote -held in 67 Florida counties, from the rural panhandle to the posh Gold Coast-was a meaningless preliminary to an equally meaningless straw vote that will be held in mid-November to sample presidential preference. None of the rivals will collect a single vote good for the 1980 nomination; the March primary will determine that. Yet the practical irrelevance of the exercise did not keep the forces of President Carter or Senator Edward Kennedy from spending extravagantly. "Florida for Kennedy" will have laid out $175,000, Carter $250,000. What they hoped...
...this week began and the vote counting proceeded at an agonizingly slow pace, it looked as if the President would get his victory-and by more than one vote. Carter did well in the northern Panhandle, next door fo his native Georgia, Kennedy in Gold Coast counties like Broward and Palm Beach; he also made a stronger showing than expected in central Florida. The big surprise was Dade County (Miami), where Kennedy strategists had been hoping for a clean sweep but Carter seemed to be holding...