FALL IN PRICE OF GOLD IN PARIS
RUSSIA SAID TO HAVE SOLD .RESERVES “Tho in LONDON, February 27. The 10 per cent, drop in the price of gold on the Paris Bourse last week w . a s caused by Russia unloading part of her huge gold reserve in an effort to America’s supremacy in world trade,” says the “People.” "French Government investigations revealed that gold had been put on the market in several European centres on the same day, including 20 tons, worth £6,000,000. which was dumped on the Swiss market. America since the end of the war has kept the price at £8 15s an ounce, to stabilise the International Monetary Fund and the Marshall Plan, but Russia’s gold reserves are now believed to total 75,000,000 ounces, worth £670,000,000. “World financiers believe that Mr Stalin means to unload most of his gold on the European market at cut price rates to upset the precarious world trade balance.”
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Press, Volume LXXXV, Issue 25741, 1 March 1949, Page 5
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158FALL IN PRICE OF GOLD IN PARIS Press, Volume LXXXV, Issue 25741, 1 March 1949, Page 5
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