Gold falls $US7
NZPA-Reuter New York Gold closed below SUS4OO an ounce for the first time since February, 1987, in New York on Wednesday (early yesterday, N.Z. time) after being battered by selling throughout the day. Gold futures for October delivery fell SUS 7 to $399.20
an ounce on the Commodity Exchange after trading as low as $397. The price declines were initially sparked overseas by lower crude oil prices which eased concern about inflation. Gold is traditionally held as a hedge against inflation.
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Press, 23 September 1988, Page 17
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84Gold falls $US7 Press, 23 September 1988, Page 17
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