Silver brighter on Gulf tension
NZPA • London Silver bullion closed at U5762/7MC an ounce in London, early yesterday morning, NX time, 14c firmer than Friday’s close of US74B/750C, which was last week’s low. . The market opened at US7M/756C after New York’s late rally on Friday on an Iranian prediction that conflict with the United States was imminent in the Persian Gulf region. Buying in New York eally yesterday morning, N.Z. time, aided the upward movement, with London simply following, dealers said. There was little reac-
tioo in London to Iranian threats of possible attacks on UH bases, they said. Trading was subdued for much of the day, with the dollar giving no clear direction to the bullion markets. Silver traded between a high of ’ U 5765/ 767 c and an opening low of US7M/756C, with a fix of U5756.75C. ‘ Asstiverheld its gains more convincingly than gold, the gold to silver ratio narrowed to 69J at the jdose from 60.6 on Friday. * Three months silver ended 13c higher-’ at U5776/778C, after opening at US77O/773C and fixing at U5772.80C. '
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Press, 7 October 1987, Page 44
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177Silver brighter on Gulf tension Press, 7 October 1987, Page 44
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