PRICE OF GOLD

Evening Post, Volume CXXVI, Issue 58, 6 September 1938, Page 14

PRICE OF GOLD

OVER £74- AN OUNCE

(By Telegraph—Press Assn.—Copyright.) (Received September 6, 10 a.m.) 1 LONDON, September 5. a The price of fine gold per ounce, -144s Id.

September 3 September 2 September 1 August 31 August 30 .. August 13 August 5 August 2 July 1 June 1 May 2 April 1 March 1 February 1 .

s. d. 143 5 143 4 143 Oh 143 Z\ 142 11 142 9 142 0 141 8 140 9 140 74 139 6£ 140 Oh 139 9h 139 7

Highest average price in 1937, March 6, 142s 7£d; average price in 1930, 85s per oz; highest average price for 1938, September 5, 144s Id. This latest advance in the price of gold is not the record, which was 149s 4d per oz in 1935, but, as will be seen by reference to the above quotations, it is a rapid rise since the beginning of the year, when about 139s 6d was the price. Since England abandoned the gold standard in 1931 the price of gold has varied from 99s 7d per fine oz to 126s lOd in 1931; 139s 9id to 149s 4d in 1935; and 1939s 3£d to 142s 7£d in 1937. The present abnormal demand for gold is attributable to existing international political conditions in Europe and the desire of Continental owners of capital to turn their money into gold, as well as in the purchase of American dollars, in the value of which they appear to have more confidence than in sterling. The present insistent demand for dollars may also be due to the British Government's Exchange Equalisation Account in refusal or at Jaast reluctance to sell gold on any terms for reasons which it is not prepared to disclose.

(British Official Wireless.} (Received September 6, 11.30 a.m.) RUGBY, September 5. Gold to the value of £1,816,000 was sold today at 144s Id.