Gold Rush Fever Grips Financial Structure
AP reports a three front move by the U S to defend the dollar from a European gold buying surge. Fed discount rate rose to 5 percent, gold cover eliminated, bold shifts in gold stock and Treasury gold flows, while global markets closed or limited trading. Copper strikes and union talks persist as capital spending climbs and unemployment edges up.
MENTIONED IN THIS ARTICLE
New York
United States
Europe
Federal Reserve Board
Senate
U.S
Treasury
Exchange Stabilization Fund
Federal Reserve
United Steelworkers of America
Kennecott Copper Corp
Phelps Dodge
Kennecott
Utah
Nevada
Arizona
New Mexico
Maryland
Commerce Department
Labor Department
Magma Copper Corp
Steelworkers Union
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