Paris gold market quotes suspended
NZPA-Reuter London The price of gold climbed to ever greater record heights in Europe on Wednesday ’ reaching $567 an ounce, in the first day of trading of the 1980 s. As the gold rush which marked the past decade showed no sign of abating, the authorities in one market — Paris — took alarm and closed down for the day. Trading in gold was suspended early in the morning on the Paris stock market when the stockbrokers association decided that demand exceeded supply by such a wide margin that it could not fix a price. Dealers in different world centres agreed that the markets have not yet settled down for the new year, so the significance of. the price move was difficult to access. Paris dealers noted that the association’s statement made no mention of- any international initiative to end the current run on gold. - After gold had soared to $560 an ounce on the Hong Kong bullion markets, the latest of its spectacular rises, the Paris gold market was dosed down. There was no afternoon fixing of the gold bar, nor for
the kilo, the Napoleon, or other gold coins.
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Press, 4 January 1980, Page 13
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194Paris gold market quotes suspended Press, 4 January 1980, Page 13
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