My '87 240 wagon with 170k miles started to have a pitching sound when
1) I just start to drive it and the car is in low gear. The sound is there when going straight (see below). After some time the sound goes away -- like when the car temp sensor gets to the middle of the gauge.
2) when I am turning left at a moderate or sharp angle.

Any ideas what is this related to? Could this be transmission related?

 

what is a 'pitching sound' ?? "Hey, battter-batter-batter!" is all that comes to mind

 

Apologies for my awkward language. The sound is a bit similar to the one car can make when when one turns at the very high speed/start in a high gear. It's like some rotating parts are skidding..

 

turning at very high speed? I just hear the wind unless I'm driving so crazy hard my wheels are skidding, then I hear tires squealing.

if its THAT loud, I'd say you should get that car to someone familiar with mechanics who can evaluated it. this could be almost anything from something rubbing against a wheel, to drive shaft or motor noise, to a failing wheel bearing. It also could be an imminent safety problem.