Gold tops $650
NZPA-Reuter Hong Kong The price of gold soared in hectic afternoon trading at the Hong Kong bullion market yesterday, rising by SUSIO in less than 10 minutes after the lunch The asking price, after surpassing $6OO an ounce in the morning, rose to $627 from the morning closing of $617. ■: Half an hour after the afternoon opening, the price shot up to $648 an ounce, a $6O gain from the morning’s opening price of , $5BB. It later reached $658 ' before closing at $620. ■ The New York market ’ closed on Wednesday ’.evening with gold at $576 -an ounce.
Hong Kong dealers said nobody was willing to sell at the moment and that buyers from Europe and the Middle East were pouring in. Other precious metals have followed gold’s lead,: silver making a record- $3B
an ounce in Europe on Wednesday and platinum reaching an all-time high of $720. Dealers attribute the latest rises purely to bad political and economic news, such as the O.P.E.C. oil-price increases, the Iranian hostage crisis, and now the Russian actionJn Afghanistan.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19800104.2.3
Bibliographic details
Press, 4 January 1980, Page 1
Word Count
178Gold tops $650 Press, 4 January 1980, Page 1
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.