SELLERS OF GOLD

Otago Daily Times, Issue 21598, 19 March 1932, Page 11

SELLERS OF GOLD

RUSH IN ENGLAND “ EXCELLENT FOR TRADE.” LONDON, March 8. Disappointing the huge army of goldsellers, the rise in the price of sterling has reduced the price of sovereigns by 3d to 27s 3d. " Fine gold is now ll7s an ounce, yet gold is overflowing purchasers’ counters in ever greater quantities than before. Officials at Harrods and Selfridges, the well-known London stores, declare that the gold rush is excellent for trade and presages a much better time. As a result of the rush, the export of sovereigns and half-sovereigns increased from 215,479 in January to nearly 3.000. in February, including 1.000. in the last four days of the month. Estimates of the value of gold in ornaments and jewellery in Britain range range up to £500,000,000. An aged woman sold to a Bond street firm an antique jewel case for £33. The shop assistant accidentally touched the spring of a secret drawer, revealing a diamond collar valued at £470. The woman said that if it had not been for the “ gold rush ” she would probably have thrown the case away as useless. Another jeweller bought a gold vase which was presented to the Duke of Cambridge by Queen Victoria. “Is this any good?” asked a Welsh agricultural labourer, producing at a shop a dirty thin yellow chain used as a dog leash. He received £lO for it, A woman dumped on the counter of another shop a pile of sovereigns which she had hoarded for years. She was informed that they were, counterfeit.