Word: metalized
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Dates: during 1960-1969
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Likewise, metal work at the University of Massachusetts exulted in qualities that are uniquely metallic. Silver's smooth reflecting surfaces flowed into candelabras, cups and candlesticks. Gold jewelry often shone sleekly and most pieces looked almost too heavy to wear-and heaviness is an important part of gold's mystique...
Squeezing South Africa. The falling gold price puts South Africa in a particularly uncomfortable position. South African mines provide 77% of the non-Communist world's gold output, but as part of a 1968 pact, central banks agreed to stop buying the metal. That strategy was intended to force South Africa to sell all its gold on the free market, thus depressing the price. South Africa tried to break the embargo but found only Portugal and some Middle East sheikdoms willing to risk the wrath of the major monetary powers by purchasing newly mined gold...
...Government has drawn on its stockpile and has begun allocating 9,000,000 lbs. of nickel for defense use. The U.S. may be forced to look for a shiny substitute for the metal that goes into dimes and quarters and makes up 25% of the content of nickels. Thefts of nickel from private warehouses have become common. Manufacturers in civilian markets are in a constant scramble for nickel, some of them patronizing a black market and paying as much as $9 a pound. Small businessmen have taken the hardest beating; they did not have the capital to lay in large...
...mark, gold has dropped abruptly. From an early October level of $41.20 an oz., the price in London sank last week to as low as $37.75 an oz. The price break was the sharpest since private gold trading was freed from the $35-an-oz. official price of the metal in March...
...South African trade deficits grow to worrisome proportions, the country might instead sell some gold to the International Monetary Fund. After all, the IMF's main mission is to promote stability in the international monetary system. By allowing South Africa only a small official outlet for its metal and forcing it to make most of its sales on the private market, the U.S. obviously hopes to squeeze the private price of gold closer to the $35-an-oz. official level. So far that is just what is happening...