AMERICA’S GOLD

Gisborne Times, Volume LXXIII, Issue 12092, 3 November 1933, Page 5

AMERICA’S GOLD

PRICE FIXED ABOVE WORLD PRICE.

DOLLAR. DECLINES AGAINST POUND. (U.P.A. by Elec. Tel. Copyright) WASHINGTON, Nov. 1. The United States Treasury to-day fixo t ] the gold price at 32 dollars 26 cents.. 74 cents above the world quotation. With the gold price up here and overseas, the Government’s plans for purchases abroad were- temporarily blocked by tlm closing of the banks in France for the observance of All Saints Day. To-day’s margin between the American and the work! price of gold was .reduced to 7I cents. Part of the shrinkage was due to the weakness of the dollar against the pound, the .former declining as low as 479£ cents. On the Now York Stock Exchange, mining and liquor shares led the market, in a brisk rally toward t llO close of trading after an earlier setback brought on by a sharp decline °f grains. Wheat suffered n 2-cent loss after a one-time decline of over 4eents. PRICE RISES IN BRITAIN £6 11s Dd AN OUNCE (U.P.A. by Elec. Tel. Copyright) LONDON. Nov. 1. Tim price of gold rose to-day to £'.C> 11s I'd an ounce, this quotation being the highest since October IS-

AMERICA’S FOREIGN PURCHASES OPERATIONS READY TO START' (IT.P.A. by Elec. Tel. Copyright) (Received Nov. 2, 7.10 p.m.) WASHINGTON, Nov- 2. Jesse Jones, chairman of the Reconstruction Finance Corporation, announced to-night that the Corporation will begin the purchase of gold io foreign markets on Thursday on behalf of the Government.