Gold Rush 1974 Opens With Quiet Start on Gold Futures
New York markets opened day one of legal U S gold trading with subdued public response yet brisk activity on futures exchanges. Prices opened at 194 per troy ounce on the New York Mercantile Exchange and 189 60 on the Commodity Exchange Inc. Traders reported chaos briefly as orders flooded in. Brokers noted most early buyers were professionals including jewelers and dentists with gold experience while others, like Dean Jones in Los Angeles, made small purchases for curiosity. Authorities and bankers warned against speculation, stressing caution as the government banks and officials publicly discouraged excessive excitement.
MENTIONED IN THIS ARTICLE
NEW York
United States
New York Mercantile Exchange
Commodity Exchange, Inc
New York Mercantile
Commodity Exchange
Mercantile
Merrill Lynch, Pierce, Fenner & Smith Co
Canada
Robert Bogdanski
Bache & Co
Samuel Weiss
Samuel Weiss & Co
U.S
Quake Toll Climbs as Pakistan Relief Efforts Expand
Army helicopters found two more villages destroyed by the northern Pakistan quake raising death toll estimates to 5200 and injuries to 16000. Brig Aftab Ahmad Khan said 2000 to 3000 tents are needed along with medicine, blankets, food, and plaster to aid thousands with broken limbs as Bhutto appeals for international aid. Road access remains limited with the Karakoram Highway severed for 70 miles, hindering rescue work centered at Pattan and Bisham.
MENTIONED IN THIS ARTICLE
Pattan
Pakistan
Aftab Ahmad Khan
Zulfikar Ali Bhutto
Islamabad
Karakoram Mountains
Karakoram
Bisham
Snow and freezing rain hit Kansas across counties
Snow and freezing rain spread over central and eastern Kansas prompting traveler advisories. Early readings showed about an inch of snow in Goodland Hill City Salina and Garden City with 1-3 inches possible as wet weather ends tonight. Temperatures were forecast to dip into the teens in western areas and into the 30s in the southeast with limited precipitation later in the week.
MENTIONED IN THIS ARTICLE
Topeka
Kan
Kansas
Goodland
Hill City
Salina
Garden City
National Weather Service
Weather Service
Coffeyville
Pittsburg
Russell
Cover-Up Jury Is In No Hurry
The Watergate cover-up jury began its first full day of deliberations, signaling no rush to judgment. Jurors, including foreman John A. Hoffar, pressed for transcripts and reviewed the 34 trial tapes as they weigh charges against Mitchell, Haldeman, Ehrlichman, Mardian, and Parkinson for conspiring to obstruct justice.
MENTIONED IN THIS ARTICLE
Washington
Richard M. Nixon
U.S
John .J. Sitica
John N. Mitchell
H.R. Haldeman
John D. Ehrlichman
Robert C. Mardian
Kenneth W. Parkinson
Sirica
New Year Festivities Mix Fun and Fear Across U S
Associated Press reports New Year celebrations vary from lavish $40 to $75 dinners in San Francisco and New York ball drops to candlelight services in Salt Lake City and subdued travel. Some fear uncertainty while others seek tradition, with fireworks under regulatory review across states.
MENTIONED IN THIS ARTICLE
Associated Press
San Francisco
Nob Hill
First Christian Reformed Church
Salt Lake City
Los Angeles
Miami Beach
Lester Moshcon
City To Maintain Landfill For Now
Ottawa city will operate its landfill pending a decision by the city commission on closing the site or sharing revenue for its continued use. City Manager Robert Mills said costs will stay in the public works budget while a plan is made. County plans to run its own solid waste site are under consideration, with timing and access to the city site debated. The landfill will close briefly Wednesday and reopen Thursday.
MENTIONED IN THIS ARTICLE
Jewel Scott
Ottawa
Robert W. Mills
City Commission
Mills
Public Works Department
Chuck Linn
State Board of Health
Board of Health
Robert Lister
Linn
Attorney General's Office
Gold Price Surge from $35 to $50 in London Market
The piece traces gold price growth from the official $35 per ounce in 1934 to a $50.45 level in London by May 1, 1972, driven by inflation fears and monetary instability. It notes the shift to a two tier market in 1968, with official price support and a free market for speculators, jewelers, and industrial users.
MENTIONED IN THIS ARTICLE
London
Europe
London Free Market
United States
Price Drops In Europe As U S Gold Trading Debuts
London and Zurich bullion markets fell as traders awaited US first legal gold dealing in 41 years. New York opened quiet at first but futures activity rose with January 1975 contracts at NYMEX and COMEX. London fixed at 186.50, Zurich opened 193 with expectations cautious on trend.
MENTIONED IN THIS ARTICLE
London
Europe
United States
New York
New York Mercantile Exchange
Commodity Exchange
Zurich
Also Mentioned on This Page
Meteill Lynch
Providence
R.I
Charlie Sedlak
Merrill Lynch
Dean Jones
Southfield
Mich
Carlenne Brown
Credit Suisse
Federal Reserve
Arthur Burns
Treasury
William Simon
Chase
Willard C. Butcher
John A. Hoffar
U.S. Park Service
Mitchell
Honolulu
Robert Howell
Decatur
Ala
American Airlines
United Air Lines
Manhattan
Miami
San Juan
Central Park
Times Square
Allied Chemical
Guy Lombardo
Waldorf-Astoria Hotel
Park Avenue
U.S. Consumer Product Safety Commission
International Monetary System
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