$U.S. not helped by fuel plan
NZPA-Reuter New York) I The gold price rose) iSUS6.2O an ounce in New (York on Monday over disappointment about Mr Carter’s energy plan. Gold closed at $295.70/$296.10 an ounce in New York after opening higher, in line with London, and advanced further on commission-house, and local buying. Dealers said that the amplification by President Carter, in Kansas City, on his earlier energy speech unsettled the market a little,
land caused it to slip back from its highest levels. But basically the market maintained its original view, ; first expressed in the Hong Kong market, that Mr Carter’s measures were of a ! long-term nature, and appeared not to give much ground for greater confidence in the dollar in the short-term. After initial uncertainty ' gold went ahead, as the dollar weakened, and was fixed at a record high in the . morning, and then at the , afternoon fix.
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Press, 18 July 1979, Page 22
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150$U.S. not helped by fuel plan Press, 18 July 1979, Page 22
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