Word: pricing
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Dates: during 1960-1969
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Predictably, the gold rush spread ripples through stock markets on both sides of the Atlantic. The price of gold-and silver-mining shares spurted on the London Stock Exchange in response to heavy domestic, continental and U.S. orders. On the New York Stock Exchange, the Dow-Jones average dipped to a 14-month low of 827.03, then rallied a bit to end the week...
...Quick Way. The value of the dollar, as the key currency of international trade and investment, is pegged to that of gold. But most non-Communist currencies are measured against the value of the dollar. Thus any change in the dollar price for bullion would upset the value of every other currency, risking global monetary chaos. Still, if the U.S. fails to stanch its decade-long balance of payments hemorrhage, sooner or later it will own too little gold to defend the $35-an-oz. price...
...that the London gold pool be closed, and that the U.S. limit its $35-an-oz. sales of bullion to the settlement of debts with other countries. That "selective convertibility" recipe stops short of outright dollar devaluation be cause some gold would remain avail able at today's price. It would also keep U.S. gold losses to a minimum. The free-market price of gold would un doubtedly soar, but that at least would promote mining and hinder future spec ulation. Raising the price of gold would require authorization from Congress, a process so subject to debate and delay...
...Ford officials vastly underestimated the extent and duration of the country's 1967 recession, kept on producing cars at breakneck speed. While sticking to the basic design that dated back to '60, Ford made some models a little longer, a little wider and considerably more expensive. Price tags on sedans, such as the 17M and 20M models, were boosted 6% to $1,907 and $2,207 respectively...
...Ministry--composed of chaplains from 12 Cambridge churches--will make no attempt to talk students into opposing the draft. "We don't intend to have any stated view towards the draft," said the Reverend Charles P. Price. "We are here to clarify issues and help students make up their own minds about the draft rather than to direct them to a certain end," he added...