DOWNWARD DRIFT
LONDON MARKETS. Flood of International Gold Transactions. FEARS OF INVASION. United Press Association.—Copyright. (Received 12 noon.) LONDOX, Septemljpr 23. Stock markets tended to drift downwards without evidence of much selling pressure except of gilt-edged. Sterling has again come under pressure. The flood of international gold transactions has been unprecedented. Another £9,250,000 of gold arrived from Belgium, whose National Bank is shipping the bulk of metallic reserve to London in fear of a possible invasion. On the other hand Switzerland is repatriating gold stocks from London. Hungary, evidently fearing the possibility of hostilities with Britain as part of the German bloc, has also repatriated London gold balances, while Sweden continues to turn sterling assets into gold for repatriation. The Irish Currency Commission decided to sell £2,250,000 of gilt-edged in order to buy a corresponding amount of gold.
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Auckland Star, Volume LXIX, Issue 226, 24 September 1938, Page 10
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138DOWNWARD DRIFT Auckland Star, Volume LXIX, Issue 226, 24 September 1938, Page 10
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