Word: goldings
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
Even the CIA claims that it has no idea who is running up prices, and the market itself abounds with rumors. Last week's scuttlebutt had it that a single Saudi investor was looking to buy a ton of gold worth about $12 million, and the market was being dominated by just a few large purchasers-including one unidentified German buyer and an unknown Canadian industrialist. About all that is certain is that small investors are now joining in the gold action...
Nicholas Deak, president of the Deak-Perera Group, a major U.S. gold dealer, believes the bulk of the buying can be traced to three sources. Demand from the Middle East remains strong, he says, not only from OPEC governments eager to protect their oil profits from U.S. inflation and the decline of the dollar, but also from peasants and small traders for whom gold remains the most popular portable security. Demand from Europe is accelerating because inflation there is rising. Bullion fever has now spread to Switzerland, reflecting fears about inflation even in that land of granite-hard currency...
...most visible demand for gold is coming from the U.S. Newspaper ads urge readers to bring their gold heirlooms in to dealers; panning for gold along rivers is again a popular hobby, and old gold mines are being reopened. In Atlanta, dentists report that patients are asking for the return of their gold inlays after they have been replaced with crowns. Large crowds and ever ringing phones are making the normally sedate quarters of bullion dealers look like bookie joints...
...less, and some of the checks being used for payment are being drawn on credit unions and savings banks by small investors. Joseph Hale, president of World Wide Coin Investments in Atlanta, reports that one client wanted advice about whether to sell her house to buy gold. Most small investors appear to be looking not so much for profit as capital protection...
...They think the country and the economy are going to pot," says Jeffrey Gushing, a Massachusetts gold dealer. Coins, including the 1-oz. South African Krugerrand and the new 1-oz. Canadian Maple Leaf, which went on sale in the U.S. this month, are the most popular buys...