CURRENCY MATTERS.

Ashburton Guardian, Volume 53, Issue 272, 29 August 1933, Page 5

CURRENCY MATTERS.

LONDON STOCK EXCHANGE. . . \ FALL IN THE PRICE GF GOLD. (United Press Association —Copyiight). (Received This Day, 10.30 a.m.) LONDON, August 28. A fall of 7id in .the price of goldtoday caused some profit-taking. West African, Indian and West Australian stocks went up. The other major feature on the London Stock Markets was the continuance of the steady rise in home rails. Gold was quoted to-day at 128 s B*d.

FLUCTUATIONS IN SHARES.

(Received Tins Day, 9.40 a.m.) LONDON, August 28

Owing to tlfe. developments in foreign exchanges a.'scramble to deal in gold shares made the Kaffir market difficult to .reach. . Kaffirs .fluctuated wildly in the first few minutes rises of 6d: to.'7k ,j 6d l Qccurring throughout the list., Heavy pi’nfitrtnking' followed, lint there , were. .stUC substantial, gains in gold shares in the'afternoon. . RELATION TO THE FRANC (Received This Day, 11.40 a.m.) LONDON, August 28. The city editor of the “Daily Mail,” commenting on the feverish dealings in gold shares, says lie considers that the policy of the 'authorities is to allow sterling to follow the dollar, not the franc. If the ' dollar continues to depreciate the sterling will probably follow, intensifying the gold boom. Moreover', sterling nominally tends to depreciate ip the autumn, owittg to commercial requirements.

SOUTH AFRICAN CURRENCY.

WILL FOLLOW STERLING

(Received This Day, 11.5 a.m.) CAPE TOWN, August 28

■Mr'N. C. Havenga (Minister of Finance) returned from the World Economic Conference disappointed that ripthing had beefi' done in establishing 'gold'as anri n ter pa ti o nal: standard until the American policy hat! time to operate. . He rjdiculpd, thp, T vjmour that the Government contemplated : devaluation, The currency of the Union would follow the sterling, he said.