Word: oz.
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...next March, through underwriters Drexel Burnham Lambert, Inc. The company can redeem them in cash or bulk on. The amount of silver backing the bonds will be related to the spot-market price of the metal on the day of issue. But if, for example, each bond has 20 oz. of silver behind it, when it is redeemed the holder will receive $1,000 or the value of 20 oz. of silver, whichever is greater. The advantage to Sunshine, which recently escaped a bloody takeover attempt by the silver-coveting Hunt brothers of Dallas, is that bond buyers are expected...
...broad and bloody selloff, or just a brief interruption in the wild climb of gold and silver? That question last week taunted everyone from Middle East oil sheiks to Chicago secretaries. In the biggest one-day tumble in precious metals history, gold slumped a startling $145 per oz., or 18%, while silver dropped $10 per oz., or 22%. Yet prices began bouncing back up, sending investors on an unnerving joyride...
...various times during the week, gold sold for as much as $875 per oz. and as little as $580. As prices changed sharply almost minute by minute, they varied substantially on markets in different parts of the world. By week's end gold fetched $640 in New York City, while in Hong Kong it was worth $705, and in London and Zurich $670. The price differentials for silver, which had risen even more spectacularly in recent weeks, to a peak of $50 per oz., were equally extreme. In London the metal closed at $37.50, and in New York...
...only a fraction of the spot, or quoted, price for the metal. This spread between scrap and spot prices has been widening because chaotic markets make dealers reluctant to tie up too much cash in expensive inventory. A year ago, when silver was quoted at around $5 an oz., dealers paid customers $3 or $4 an oz., but when silver recently nudged $50, nervous dealers in the Los Angeles area were offering only $10 to $20 an oz. for scrap and sterling flatware...
...Archbishop Bruno Heim, 68. The supplicant chef frequently turns out to be Heim himself, who likes to slip an apron over his cassock to whip up sauces or stir his favorite golden champagne cocktails (ingredients: good champagne, a soupçon of pineapple juice, a splash of Cointreau, 12 oz. of soda and a tsp. of sugar). Heim, who speaks 14 languages, newly enjoys, as apostolic delegate, diplomatic status granted by the British government, healing a breach opened with the Roman church by Henry VIII; his credentials as a gourmet have been accepted by such distinguished dinner guests as Donald...