World: Gold, Silver Prices Plunge, Pushing Dollar Higher
Gold and silver plunged to their f. lowest levels since August 1979 . yesterday as higher U.S. interest</br></br>Gold and silver plunged to their f. lowest levels since August 1979 . yesterday as higher U.S. interest Û¢	rates removed any incentive to ' hold metals and at the same time ' pushed the dollar to new high lev- nesday. In New York gold traded as low as $304 before climbing back to close at $308, from $317. The New York Commodity Ex-</br></br>The dollar soared on foreign markets and got an additional boost in New York when the overnight federal funds rate remained at the 14% percent level despite actions by the Federal Reserve to</br></br>In Tokyo, the dollar soared to 254.40 yen from 251.55, its highest level since April 1980, and traded at 254.95 in New York.</br></br>In London the British pound fell to $1.7435 from $1.7505 and plunged to $1.7390 in New York. In Paris the dollar rose to 6.789 French francs from 6.7435 (6.7857 in New York).