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Economy / Dollar Rise and Gold Price Drop #51982

ABC Evening News for Monday, Nov 06, 1978
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(Studio) Dollar's continued gains against foreign currency on world money mkts., in wake of President Carter's announcement of new anti-inflation policies, noted. Decr. in gold prices as result of dollar gains reported; price in London contrasted to that on Friday Concerns of small investors who bought gold as hedge against inflation while dollar was falling stated.
REPORTER: Frank Reynolds

(NYC) Report is on losses to small investors who bought gold while dollar values fell and are left with paper losses now that reaction to Carter inflation message has caused dollar to rise. Case of Jack Spence, who bought 2 South African gold coins noted; these said to be popular purchase with small investors. [SPENCE - asks price of krugerans.] [SALESMAN - quotes price.] [SPENCE - will buy 2.] [Gold dealer James SINCLAIR - describes effects of gold price drop on small investors.]
REPORTER: James Walker

Reynolds, Frank;
Walker, James

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