FEARS DOMINANT
GOLD IN DEMAND
STERLING UNDER PRESSURE
(Received September 24, 11.30 a.m.) LONDON, September 23. The stock and share markets have tended to drift downwards^ but without evidence oi much selling pressure, except an gilt-edged investments. Sterling has again come under pressure. , ° The flood of international gold transactions has been unprecedented. Another , £.9,250*000 sterling in go3d arrived from the Belgian National Bank, which is shipping the bulk of its metallic reserve to London for fear of a possible invasion. On the other hand, Switzerland 'is repatriating its gold stocks from London. Hungary, evidently fearing the possibility of an outbreak of hostilities with Great Britain as part of the German bloc, has also repatriated its London gold balances, while Sweden continues to turn its sterling assets into gold for repatriation.
The Irish Currency Commission has decided to sell £2,250,000 worth of its gilt-edged securities in order to buy a corresponding amount of gold.
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Bibliographic details
Evening Post, Volume CXXVI, Issue 74, 24 September 1938, Page 9
Word Count
153FEARS DOMINANT Evening Post, Volume CXXVI, Issue 74, 24 September 1938, Page 9
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