Gold price $427
PA London Gold prices rose to the highest levels since last December in trading on European markets. London bullion dealers fixed the price at $U5417.50 an ounce yesterday morning, and it later touched $420. Dealers said that some of the rise was the result of nervousness about the bombing of the key Kharg Island oil terminal in the fighting between Iran and Iraq. Most of gold’s recent strength follows the weakening of U.S. interest rates-which makes holding the metal, less unattractive to investors.Gold prices, slipped below $4OO in London on Wednesday. Only two months ago. gold was trading at a low of $296.75. The price of gold jumped $19.40 on the Commodity Exchange in New York, to $427.30, the highest Comex price since November. 6, 1981.
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Press, 28 August 1982, Page 21
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129Gold price $427 Press, 28 August 1982, Page 21
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