Word: gold
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Dates: during 1970-1979
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...next day of the meet, Beckford blazed through the age group mile in 4:51.2. just missing the gold medal by one-tenth of a second...
...dollar is being eased out of the cornerstone position it has held since World War II, gold and some strong currencies are moving in. The American campaign to remove gold from the world money system has failed;, as one example of bullion's continuing monetary role, the seven-month-old European Monetary System that links seven Common Market currencies has gold as a centerpiece. Fritz Leutwiler, the president of the Swiss National Bank, quotes from the Book of Job: "I have made gold my hope or have said to the fine gold, Thou art my confidence." Some leading Americans...
...Gold is not the only game in town. From fine art and oriental carpets to housing in the suburbs and vacation land in the sticks, Americans in record numbers are doing something that they have never done before- bailing out of their own national currency and dashing for inflation hedges wherever they can find them. Like generations of inflation-scarred Europeans, they are parking more and more of their wealth in investments that do not necessarily pay interest but at least prom ise to preserve value in the face of exploding prices...
...Gold's rise of over 60% during the past twelve months to $385 per oz. has been spectacular, but that goes for its gyrations too. Though investors by the thousands routinely speculate on possible price movements of the yellow metal by buying and selling so-called futures contracts on commodities markets, trading in the actual gold itself is much more limited, and a mere handful of big investors can and do bring about significant changes in price. In just four weeks, gold leaped from $330 per oz. to hit $447, only to lose half that impressive gain...
DIED. Roger K. Fawcett, 69, president of Fawcett Publications; of cancer; in New York City. The Minnesota-born Fawcett succeeded his father as chief executive officer of the firm, which publishes magazines (Woman's Day, Mechanix Illustrated), paperbacks with the Crest, Gold Medal and Popular Library imprints and Charles Schulz Peanuts books. Fawcett sold the family-owned company to CBS in 1977 for $50 million...