Element No. 79 heats up
As any goldbug knows, booms are born of gloom. That was certainly the case in 1977, as slumping stock markets and the slide of the U.S. dollar sent some seared investors around the world fleeing to that traditional haven of professional pessimists, No. 79 on the periodic table of the elements. From $103 per oz. in August 1976, gold has steadily risen on the world's money markets, and last week reached $176.63 in Zurich. There is an excellent chance that during 1978 the price for gold will surpass the record $197.50 achieved in 1974.
One important reason for...
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