The Michigan Daily-Wednesday, August 2, 1978-Page 11 Price of gold hits all-time high LONDON (AP) - Gold prices shot to a record high yesterday as the dollar plumbed new depths against Japanese and Swiss currencies, but consumers won't find any immediate price in- creases at jewelry stores. During the morning, gold reached $207.50 an ounce - more than $7 higher than the overnight level, but profit- taking dulled the glitter after mid-day. However, the metal still closed at $204.65 - an increase of more than 21 per cent in three months and about double its low two years ago. AT CARTIER'S, an elegant Bond Street jewelry store, purchasing manager Perry Davidson was reassuring. He said the store has ex- perienced no gold rush as yet and for the time being prices will not change. The gold adorning Cartier's windows was bought by the jeweler two or three months ago, he pointed out. "If we feel there's going to be a per- manent increase in the price of gold, we increase the price of our goods," Davidson said. "But if we think it's a temporary thing and going to go down again, we just absorb the increase for a while." ZURICH, EUROPE'S other major bullion market, was closed for a bank holiday. But elsewhere, Switzerland's virtually inflation-free economy con- tinued to drive the Swiss franc ahead of other currencies. In London it took only 1.7215 francs to buy a dollar at yesterday's close, com- pared to the previous record low of 1.7370 in Zurich on Monday. Gold buyers yesterday included "everybody from top to bottom, the whole works," said one London bullion dealer, weary from a day of "very hec- tic" trading. "TOMORROW we'll probably see it taking off again in a little more sedate manner than it has been shooting up," he said. How high would the price have to go before Cartier's jacks up its prices? "I think it would have to go up another 10 or 15 per cent before we'd even entertain it," said Davidson. On the foreign exchanges, the dollar sank to a new low of 187.95 yen in Tokyo, down from Monday's closing at 190.80. In London, the British pound wound up the day slightly higher, at $1.9295 against $1.9287 Monday. Late dollar rates in major financial centers, with the previous day's final rates were: Frankfurt - 2.0380 West German marks, down from 2.0430. Paris - 4.3610 French francs, down from 4.3693. Amsterdam - 2.1976 Dutch guilders, down from 2.2030. Milan - 841 Italian lire, down from 842. DAILY EARLY BIRD MATINEES --- Adults $ 1L.25 DISCOUNT IS FOR SHOWS STARTING BEFORE 1:30 MON. thru SAT. 10 A.M. til 1:3a P.M. SUN. & HOLS. 12 Noon til 1:30 P.M. EVENING ADMISSIONS AFTER 5:00, $3.50 ADULTS Monday-Saturday 1:30-5:00, Admission $2.50 Adult and Students Sundays and Holidays 1:30 to Close, $3.50 Adults, $2.50 Students Sunday-Thursday Evenings Student & Senior Citizen Discounts Children 12 And Under, Admissions $1.25 TICKET SALES 1. Tickets sold no sooner than 30 minutes prior to showtime. 2. No tickets sold later than 15 minutes DAILY EARLY BIRD MATINEES -- Adults $1 .25 DISCOUNT IS FOR SHOWS STARTING BEFORE 1:30 MON. thu SAT. 10 A.M. til 1:36 P.M. SUN. & HOLS. 12 Noon til 1:30 P.M. EVENING ADMISSIONS AFTER 5:00, $3.50 ADULTS Monday-Saturday 1:30-5:00, Admission $2.50 Adult and Students Sundays and Holidays 1:30 to Close, $3.50 Adults, $2.50 Students Sunday-Thursday Evenings Student & Senior Citizen Discounts Children 12 And Under, Admissions $1.25 TICKET SALES 1. Tickets sold no sooner than 30 minutes prior to showtiqne. 2. No tickets sold later than 15 minutes f } 10:30 1:00 3:30 JOHNTRAVOLTA 6:30 OUVIA NEWTON-JOHN 9:0 PG] I A SIARRING GOLDIE HAWN iCHEVY CHASE 10:40 1:15 3:45 7:00 4:30 10:15 1245 4:15 7:15 9:45 dunnit? Neil Simon's "THE CHEAP DETECTIVE" 10:20 12:30 4:00 6:45 9:15