CBS Evening News for Tuesday, Dec 31, 1974
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(Studio) Americans legally entitled to buy gold for 1st time in 41 years Salt Lake City widow, Gwen Bennett, says she's not buying gold due to worries over paying month's light bill. President Ford says he's not speculator and won't buy.
REPORTER: Roger Mudd
(Chicago, Illinois) At midnight, gold bought and sold at Commodity Exchange. Armored truck delivers $2 million of gold to Bd. of Trade. Bars for display only. [Bd. of Trade Warren LEBECK - says some feel gold will be 1 of our biggest mkts. Looks like it'll be good steady trader.] $17 million traded.
REPORTER: Bruce Hall
(Los Angeles, California) No gold rush at California bank and bullion dealers. California has law regulating gold sale for future delivery. [California Corps. Commission Robert TOMS - says profits of gold suggest currency debased deliberately by government policy and national destiny at stake. Suggests people should do away with dollars and buy place in mts. to prepare for holocaust. Those same people taking dollars from gold sold.]
REPORTER: Richard Wagner
(Atlanta, Georgia) No gold-buying rush here. Bank reports little public interest. Loan stock brokerage firm has little response. Display in department store gets little attention Land thought more valuable here.
REPORTER: Tony Sargent
(NYC) [Senator James BUCKLEY - displays piece of gold.] He starts trading at New York Commodity Exchange. Price kept dropping from $194 ounce to $182.50 ounce Customers bought little at Republican National Bank. Few buyers at brokerage hses. [Bank President Fred. BOGART - says Americans will be cautious about gold buying.] [Investment analysts James DINES - says gold instrument to get away from paper money. Will be stampede in 1975.] 200 of United States 300 biggest banks refuse to sell gold.
REPORTER: Robert Schakne