World: Dollar Up; Gold Dives
The U.S. dollar strengthened In foreign exchange trading at home and abroad yesterday amid expectation of a rise in U.S. interest rates. Gold prices fell sharply.</br></br>Gold plummeted in Zurich to $297,375 a troy ounce from $303,125 late Friday. In London, EuropeÛªs other major market, the price was $297.25, compared to $302,125 at the end of last week. In New York, the price w<is $299.00, off $5. Gold peaked in Zurich July 24, closing at $307,375 an ounce.</br></br>Late dollar rates in overseas centers, compared with late Friday rates: FrankfurtÛÓ1.8265 West German marks, up from 1.8222; ZurichÛÓ 1.6516 Swiss francs, up from 1.6462; ParishÛÓ4.2522 French francs, up from 4.2410; AmsterdamÛÓ2.0065 guilders, up from 1.9995; MilanÛÓ817.50 lire.</br></br>PIPELINE PUSH: Foothills pipelines announced it will push for a $1.56 billion all-land route to carry * Alaskan oil to the lower United States, reducing the need for dangerous tanker traffic down the Wes* Coast.</br></br>The Canadian company said the 1,505-mile pipeline from aFirbanks, Alaska to Edmonton, Alberta, would cost $1.56 billion and transportation costs would drop to $6.47 per barrel from the present $9,993 cost of using the Panama Canal.