At end of a dazzling decade gold reaches $526 an ounce

Gold closed in London Monday at a record $526 an ounce, ending a decade in which the metal recorded the most amazing price leaps in its long history. As the important London bullion market shut its doors early to end the year, dealers expressed astonishment at the performance of gold in the 1970s.

"Just imagine," said one, "if you had sunk your savings into gold at the start of the '70s, when it was $35 an ounce. . . ."