Gold at $465
PA " London The U.S. dollar knocked the glitter off gold yesterday, and the. metal plunged to its lowest price on world bullion markets for 14 months. Gold traded yesterday afternoon in Europe at $465.50 an ounce, the lowest since December. 1979. At that time it was climbing bouyantly towards its record- $875 an ounce reached on the threshold of the 1980 s — mainly because of international tensions after Soviet troops had rolled into Afghanistan. Since the end of the Ira-nian-U.S. hostage crisis, gold
has been losing some of its attraction as a haven in times of uncertainty. The dollar, strong since the Reagan administration promised tight anti-inflation policies, soared despite last week's bad U.S. trade figures. and the recent efforts of the Germans and Swiss to protect their currencies. Against the strong dollar, the pound sterling slumped by about three, cents to its lowest for 10 months, continuing the weakening trend that began last week ahead of the Marell 10 British budget.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19810304.2.123
Bibliographic details
Press, 4 March 1981, Page 19
Word Count
165Gold at $465 Press, 4 March 1981, Page 19
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.
Log in