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By Melissa Harris and Melissa Harris,Sun reporter | August 2, 2007
From her third-floor Baltimore apartment, Katherine Lundy heard the whir of an electric saw carving metal. She looked out her window expecting to see construction workers but instead spotted a pair of legs sticking out from under her roommate's Toyota pickup truck. She rushed down the stairs, but the thief and three accomplices had driven off with the truck's catalytic converter. Catalytic converters are increasingly lucrative targets for thieves, who chop them off for the precious metals inside, such as platinum and rhodium, which are trading at higher prices than gold and fueling an industrial boom in Asia.
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ENTERTAINMENT
By Mary Carole McCauley, The Baltimore Sun | February 3, 2011
Gary Vikan, director of the Walters Art Museum , is guardedly hopeful that the unrest in Egypt won't interfere with a big exhibit planned for the fall of 2014. Long before protests broke out this week, the Walters had been working on a future exhibit that will spotlight the ancient treasures of the North African nation. So, when Vikan heard that Egypt's museums and storehouses were being looted, he was understandably concerned. But early indications are that damage to Cairo's famed Egyptian Museum was relatively minor, and that the approximately 70 items that were taken or smashed in the first 24 hours of the unrest can be repaired.
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NEWS
November 23, 2008
Armed with a cordless reciprocating saw, a thief needs only about 90 seconds to steal a car's catalytic converter, the anti-pollution device that can be accessed from underneath and cut away from the exhaust system. The criminal's reward is $50 to $200 that a local scrap dealer will pay for the various precious metals, including platinum, that are found inside. In 2006, Baltimore County police investigated 50 such incidents. So far this year, that number has swelled to 320, a sixfold increase.
NEWS
November 23, 2008
Armed with a cordless reciprocating saw, a thief needs only about 90 seconds to steal a car's catalytic converter, the anti-pollution device that can be accessed from underneath and cut away from the exhaust system. The criminal's reward is $50 to $200 that a local scrap dealer will pay for the various precious metals, including platinum, that are found inside. In 2006, Baltimore County police investigated 50 such incidents. So far this year, that number has swelled to 320, a sixfold increase.
BUSINESS
By Christopher Davis and Christopher Davis,MORNINGSTAR.COM | January 13, 2002
Talk about a reversal of fortune. The perennial fixture of the laggards list, the precious metals category, was 2001's second-best-performing fund group. The bear market took a heavy toll on most diversified equity offerings, but the typical precious metals fund gained nearly 20 percent for the year, 32 percentage points better than the S&P 500 index. So what's behind the category's good fortune? Gold prices enjoyed a resurgence in early 2001, buoyed by a stagnant economy, a tumultuous stock market and fears that inflation would rise or the dollar tumble.
NEWS
By Hannah Mitchell and Hannah Mitchell,KNIGHT RIDDER/TRIBUNE | July 11, 2002
HIDDENITE, N.C. - Stop the world and let Jamie Hill off. The Alexander County, N.C., man who's famous for finding giant emeralds on his property now says that he has found gold and other valuable metals in the rock he mines for the gems. Hill, who found two large emeralds at his mine in January and an 88-carat crystal in 1998, says the rock where the gems hide contains gold, platinum and palladium. He hopes it can bring fortune to this rural county of farms and small furniture factories.
BUSINESS
By BLOOMBERG NEWS | December 13, 1997
LONDON -- Gold slipped to near its lowest price in 18 years yesterday as the Swiss National Bank said it began lending gold last month, yet another sign government gold holdings are finding their way to market.Switzerland, the world's fifth largest gold holder, began lending the metal to other banks last month, said SNB Vice President Jean-Pierre Roth at a news conference. The move was the bank's first gold transaction since 1976.The Swiss announcement came amid concern that central banks worldwide want to lend or sell their gold to generate returns on an asset that they had left untouched in order to back their currencies.
BUSINESS
By New York Times News Service | August 6, 1993
Gold prices plunged yesterday in a frenzied day of trading as investors dumped their holdings amid the easing of Europe's currency crisis and rumors of sales by China's central bank.The sharp drop in prices came amid what traders described as a marketwide panic. A broad swath of international investors, mutual funds and speculators unloaded gold on fears that demand was softening even as the price was reaching a speculative peak."The market just crashed," said Patrick MaGilligan, a precious metals trader with Merrill Lynch & Co. "At some points during the day, there were absolutely no bids."
BUSINESS
By JAY HANCOCK | June 27, 2008
The winner of the Maryland Congressional Delegation Investment-Picking Contest, held annually in this space since 2003, "just got lucky" last year, his spokeswoman suggests. Don't believe it. Congressman Roscoe G. Bartlett, the great-grandfather, physiological scientist, patent holder and Western Maryland Republican who always has a copy of the Constitution in his pocket, has owned and believed in precious metals at least since the early 1990s. His stake in what we can assume is gold and similar items surpassed $250,000 last year as the financial system shuddered and people rushed for the only kind of investment politicians and central bankers can't mess up. Gold rose 30 percent in 2007 to $834 an ounce.
BUSINESS
February 16, 1992
* Against that background, the stock market managed a halting advance in the past week. The Dow Jones average of 30 industrials closed Friday at 3,245.97, up 20.57 points from the week before.The NASDAQ composite index for the over-the-counter market rose 1.33 to 636.28, while the American Stock Exchange market value index was down 1.14 at 414.27.* The government said retail sales improved in January, and the nation's automakers reported sales for all North American-made cars and truck rose sharply.
BUSINESS
By JAY HANCOCK | June 27, 2008
The winner of the Maryland Congressional Delegation Investment-Picking Contest, held annually in this space since 2003, "just got lucky" last year, his spokeswoman suggests. Don't believe it. Congressman Roscoe G. Bartlett, the great-grandfather, physiological scientist, patent holder and Western Maryland Republican who always has a copy of the Constitution in his pocket, has owned and believed in precious metals at least since the early 1990s. His stake in what we can assume is gold and similar items surpassed $250,000 last year as the financial system shuddered and people rushed for the only kind of investment politicians and central bankers can't mess up. Gold rose 30 percent in 2007 to $834 an ounce.
NEWS
By Melissa Harris and Melissa Harris,Sun reporter | August 2, 2007
From her third-floor Baltimore apartment, Katherine Lundy heard the whir of an electric saw carving metal. She looked out her window expecting to see construction workers but instead spotted a pair of legs sticking out from under her roommate's Toyota pickup truck. She rushed down the stairs, but the thief and three accomplices had driven off with the truck's catalytic converter. Catalytic converters are increasingly lucrative targets for thieves, who chop them off for the precious metals inside, such as platinum and rhodium, which are trading at higher prices than gold and fueling an industrial boom in Asia.
BUSINESS
By RITU KALRA and RITU KALRA,THE HARTFORD COURANT | November 30, 2005
There was a time, before national banks and paper currency, that gold - not cash - was king. As it spiked over $500 per ounce yesterday, the first time it crossed that threshold since 1987, the regal metal that had been relegated to a relic for decades once again laid claim to its throne. Its message to investors: Watch out for inflation next year. Be particularly careful in the bond market, which signals the direction of interest rates. And, oh yeah, the stock market might not look too pretty, either.
BUSINESS
By Robert Manor and Robert Manor,CHICAGO TRIBUNE | December 3, 2004
CHICAGO - After two decades as a wretched investment, gold is on a tear, hitting a 16-year high yesterday in the most glittering example of how the falling value of the dollar is reshaping global commerce. For consumers, gold at a whopping $456.89 an ounce - its intraday high in New York yesterday - means paying a tiny bit more for jewelry and dental work. Beyond that minor immediate impact, however, the rising price of the precious metal reflects far-reaching economic forces that affect everybody.
BUSINESS
By KNIGHT RIDDER/TRIBUNE | December 14, 2003
SAN JOSE, Calif. - Vince Grimaldi remembers Jan. 21, 1980, the final day of the last big gold bubble. "It was like a Broadway opening," said Grimaldi, a salesman at the Valley Gold & Silver Exchange in San Jose. "People were lined up outside the building and around the corner. People were taking $1,000, $2,000 out of their bank accounts and running in to get some gold coins, silver, whatever. They'd buy whatever we had on hand." In that uncertain environment of inflation and high interest rates, investors abandoned stocks and bonds and turned to gold as it rose to a record $850 an ounce.
NEWS
By Edward Goldberg | September 9, 2003
MERCANTILISM IS a word that most Americans thought died with their memories of high school world history class. It was one of those ninth-grade words whose definition had to be memorized but whose meaning was never fully understood. Mercantilism is a word rarely used anymore in relation to economic or foreign policy. Yet look closely at current international U.S. economic policy and the definition of mercantilism resonates: a policy system seeking to ensure a nation's political and economic supremacy in its rivalry with other states.
BUSINESS
March 1, 1992
* The stock market's most-watched barometer, the Dow Jones industrial average, hit some new records as Wall Street continued to forecast recovery.The Dow hit an all-time high of 3,282.42 points Monday, then broke that record by moving to 3,283.32 on Wednesday. Stocks then cooled off, finishing the week at 3,267.67, down 12.52 points from the week before.The NASDAQ composite index for the over-the-counter market rose 3.72, to 633.47, and the American Stock Exchange market value index was up 3.24 at 416.09.
BUSINESS
By RITU KALRA and RITU KALRA,THE HARTFORD COURANT | November 30, 2005
There was a time, before national banks and paper currency, that gold - not cash - was king. As it spiked over $500 per ounce yesterday, the first time it crossed that threshold since 1987, the regal metal that had been relegated to a relic for decades once again laid claim to its throne. Its message to investors: Watch out for inflation next year. Be particularly careful in the bond market, which signals the direction of interest rates. And, oh yeah, the stock market might not look too pretty, either.
NEWS
By Hannah Mitchell and Hannah Mitchell,KNIGHT RIDDER/TRIBUNE | July 11, 2002
HIDDENITE, N.C. - Stop the world and let Jamie Hill off. The Alexander County, N.C., man who's famous for finding giant emeralds on his property now says that he has found gold and other valuable metals in the rock he mines for the gems. Hill, who found two large emeralds at his mine in January and an 88-carat crystal in 1998, says the rock where the gems hide contains gold, platinum and palladium. He hopes it can bring fortune to this rural county of farms and small furniture factories.
BUSINESS
By Christopher Davis and Christopher Davis,MORNINGSTAR.COM | January 13, 2002
Talk about a reversal of fortune. The perennial fixture of the laggards list, the precious metals category, was 2001's second-best-performing fund group. The bear market took a heavy toll on most diversified equity offerings, but the typical precious metals fund gained nearly 20 percent for the year, 32 percentage points better than the S&P 500 index. So what's behind the category's good fortune? Gold prices enjoyed a resurgence in early 2001, buoyed by a stagnant economy, a tumultuous stock market and fears that inflation would rise or the dollar tumble.
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