Bound Volumes, Hometown History
January 9, 2025
50 YEARS AGO
The gold rush that generally started as a slow walk resumes Thursday after a one-day holiday break. Thomas W. Wolfe, head of the Treasury’s Office of Domestic Gold and Silver Operations, said the first day of legal sale of gold bullion to American citizens in 41 years showed that demand was extremely slow and almost nonexistent. Specialists had predicted that the end of the ban on private ownership of gold bullion might create a modern gold rush. But, with the precious metal selling in most areas at more than $200 an ounce, there were more curious questioners than buyers. The London fixing fell to $186.50 per troy ounce equal to 1.097 regular ounces. With a broker’s fees and commission involved, the price to the consumer was well over $200 an ounce.
January 1975
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