Word: gold
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Dates: during 1970-1979
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...believe the enormous fluctuation in the economy has something to do with it. They see the inflation, and the price of gold going up and they want to understand it," Otto Eckstein, Warburg Professor of Economics, said earlier this week...
...Gold Medallions
...doom, and again when a village festival brings angry young orators who give speeches about human rights and democracy. Blank faces watch the troops and the speakers: the troops are soon eclipsed by the wonders of the city and the angry speeches no longer heard when someone spots a gold coin lying unclaimed on the ground. And though the ending hints at some stirrings of unrest among the families after one of their group has been evicted by the landowner, this in not a film about politics, oppression, human rights, class struggles, or mean landlords vs. good peasants...
...gold can be perilous. Says Clayton Yeutter, president of the Chicago Mercantile Exchange, a leading gold futures market: "As the price enters the stratosphere, the risks become extraordinary. If you look over the edge from here, it's a long way down." Even if there is no great plunge, the small investor especially can find himself paying more than he figured for his bullion. When buying or selling coins, for example, dealers commonly add a charge amounting to 5% or more of the market price. Thus someone who bought a Krugerrand when gold was at $380 last week would...
What investors must also be alert to is the old saw that when the little guy starts buying, the smart money is already pulling out. Says Walter Perschke, president of Numisco, a Chicago gold brokerage house: "Everyone wants to get into the gold boat. What they do not realize is that when everyone gets in, the boat sinks." If a great many large investors move to take their profits, the sinking could be rapid. Although there is no evidence of this happening yet, smaller investors who are unable to sell quickly could find that gold fever is not only contagious...