Word: marketeers
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Dates: during 1960-1969
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...week's end, few brokers expected the stock market to sustain its momentum in the weeks just ahead. Said Newton D. Zinder, a top E. F. Hutton & Co. analyst: "The market now is vulnerable to bad news, just as it was vulnerable to good news before." Yet peace, if it comes, seems likely to push stock prices to new highs. That is what happened sooner or later after World Wars I and II and the Korean...
London's gold market, hitherto responsible for 80% of the world's gold trading, reopened after a two-week shutdown aimed at stifling the gold-buying stampede that threatened the dollar. Now the question was whether the free-market price of the metal, no longer supported by the disbanded seven-nation gold pool, would climb so far above its $35-per-oz. official monetary level as to rekindle speculative frenzies...
Though some Europeans had predicted that the price might double on the free market, nothing of the kind occurred. Trading was comparatively light, and the price of gold fell from $38 per oz. at the opening to $36.70, then edged up to $37 at week's end. On the Continent, where gold brought as much as $44 per oz. at the height of the March gold rush, the price dropped last week in phase with that in London; nowhere did it vary more than 50? per oz. from the British quotations...
Even if the South Africans do so, Swiss bankers last week insisted that they can challenge London's long supremacy in the market. Their customers siphoned off some $2 billion worth of gold from London between the mid-November devaluation of the pound and the mid-March closing of the gold pool, when the U.S. and six other countries stopped selling gold to the private market. That huge supply, equal to about two years' South African output, must remain the key source of bullion for free-gold trading for some time...
...measure would limit imported woolen and man-made textiles to 8.6% of domestic consumption, a level well below the 10.1% of the market that such foreign products snared last year. The Senate came within a single vote (38-37) of adding a quota on dairy imports to the same tax bill. House negotiators may well resist heavy pressure to agree to the textile quota in the Sen ate-House conference on the final form of the bill. Still, the rising strength of protectionist sentiment in Congress has brought serious threats of retaliation from a dozen countries...