GOLD BUYING.
Your article of caution about gold buying should be directed against those firms which arc giving such low prices as 30/ to 34/ ifior 9ct and other grades in proportion. These prices are old gold prices at par rate. To-day the pound sterling is quoted in London at 3.07 dollars, or equivalent to 13/3, but as we are 10 per cent worse off than London the New Zealand pound is worth only 13/9, or, in other words, the sovereign is worth approximately 30/. You stress the point of firms having to pay 2/0 per ounce for export duty, but no reputable firm would dispose of its gold in such a fashion. To sum the matter up, after allowing a good margin, the prices at to-day's rate of exchange are as follow: 9ct, 42/; l">ct, 70/; ISct, 84/. J. T. ELDERSHA.W.
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Auckland Star, Volume LXIII, Issue 122, 25 May 1932, Page 6
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142GOLD BUYING. Auckland Star, Volume LXIII, Issue 122, 25 May 1932, Page 6
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