Word: oz.
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...single day, gold climbed $74.50 per oz., or more than twice its total value as late as 1971. During the week, it climbed an incredible $148, to hit $660 per oz. before slipping back suddenly at week's end to a still dazzling $603, or an overall gain of 18% in only five days...
...sell-off was spurred partly by rumors that the U.S. was planning a surprise gold auction of as much as 6 million oz. in an effort to break the price runup. Though the Administration denied the rumors, the U.S. could well afford such an auction. The nation's gold reserves are still far and away the largest on earth, totaling some 276 million oz. At last week's closing price, the reserves were worth some $165 billion, or more than twice as much as those of second-ranked West Germany. By comparison, the Soviet Union's official...
Silver, which had climbed more sharply than gold during 1979, leaped by $7 per oz., to a peak of $41.50, or a rise of 20%. Then it, too, fell back, with equally extreme gyrations, to some $36.10. Even at that figure, silver was trading for more than gold had been worth at the start of the 1970s...
Other metals also rocketed. Platinum, which is used for jewelry and manufacturing of such products as jet engines and high octane gasoline, soared from $693 to a record $870 per oz. before settling down...
Gradually, the nation absorbed difficult lessons about the limits of its power and resources. The unprecedented defeat of American arms in Viet Nam coincided with other descending trends: the shrinking of the dollar (gold went from $36 per oz. in 1970 to a record high of nearly $520 per oz. last week), the nation's abject dependence on an imperious OPEC for two-thirds of its oil, a failure in the nerves and muscles that used to make friends and enemies docile...