On this day, 65 years ago, on October 21, 1960 (September 2, 1960 in the lunar calendar), Western countries experienced a run on the dollar and snapped up gold. On October 21, 1960, due to fears that the increasingly deepening U.S. fiscal and financial crisis would force the U.S. dollar to devalue, in recent days, a wave of rushing against the U.S. dollar, rushing to sell U.S. dollar stocks and snapping up gold swept through almost the entire capitalist world financial markets, causing the U.S. dollar price of gold to reach an unprecedented peak in these markets. This trend has emerged in some Western European markets in the past few days, especially in the London market. On the 20th, the price of gold per ounce in the London market rose to US$40.6, nearly US$5 higher than the initial price. This is $5.6 higher than the official U.S. price of gold to the U.S. dollar ($35 per ounce). Commenting on this situation, Associated Press economic commentator Dawson said,"The new wave of gold buying in London and elsewhere involves the prestige of the dollar and doubts about U.S. economic trends." Prior to this, this rush to buy gold was already developing in the financial markets of other Western European capitalist countries. On the 19th, the price of gold rose to 6150 new francs per kilogram on the Paris financial market, the highest point since the franc ratio plummeted in March 1952, and more than 500 new francs per kilogram of gold higher than before. In Milan, Italy, the price of gold per centimeter was still 730 lire on the morning of the 19th, and rose to 770 lire by noon, which is about 10% higher than the average price of gold in several years. In Frankfurt, West Germany, the price per kilogram of gold was still 5105 marks on the evening of the 18th, and rose to 5500 marks on the 19th. In Switzerland, a large number of gold purchases occurred a few days ago. Canada, which is economically under the strictest control of the United States, also experienced a rush to buy gold yesterday in the city of Toronto, described by Western news agencies as an "indescribable and unprecedented". Even in the United States, there is a rush to buy gold. According to reports, the total number of gold sold on the New York market on the 20th reached more than 20 million US dollars. However, there are still many people who ask for gold who are not satisfied. When talking about this rush to buy gold, Associated Press economic commentator Dawson pointed out that some bankers in Western Europe hope to convert their US dollar reserves into gold. Some people believe that the US dollar is no longer the strongest currency it once was. They insist that the U.S. payments deficit and gold outflows over the past three years could force the dollar to weaken. This worldwide rush to buy gold has greatly shocked American financial giants. The main leaders of New York's banking community went to meet with U.S. Treasury Secretary Anderson yesterday immediately after receiving the news and asked the U.S. government to take quick measures to stop the development of this trend. The U.S. Treasury Department immediately issued a statement in an attempt to reassure people yesterday, saying that continuing to maintain the price of US$35 per ounce of gold is "our unswerving trend." However, the Associated Press had to admit in a message that "the U.S. authorities are increasingly uneasy about the continued outflow of gold from the U.S. treasury. This outflow of gold makes the world uncertain whether the U.S. dollar can maintain its value in world currencies."