RUSH TO BUY GOLD
CONTINENTAL HOARDERS INTERNATIONAL OUTLOOK CONCERN IN LONDON (Elec. Tel. Copyright—United Press Assn.) fßec. Aug. 4, 12 noon.) LONDON, August 3. The financial correspondent of the Associated Press states that Continental hoarders are rushing to buy gold as there are renewed rumours of a general devaluation and lack of determined resistance on the part of the equalisation fund. These rumours have been strengthened by the belief that the British authorities prefer sterling and the dollar rate will be lower. Discrepancies in recent official statements the latest of which is revealed by the conversations between the United States Treasurer and the French authorities of complete French and American agreement in current matters have led to the belief that something is afoot. Other factors tending to increase the gold price are political fears in respect to Czechoslovakia and the Far East. Gold purchases form part of the refugee funds. The City is especially perturbed over the RussoJapanese tension.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/PBH19380804.2.92
Bibliographic details
Poverty Bay Herald, Volume LXV, Issue 19700, 4 August 1938, Page 8
Word Count
159RUSH TO BUY GOLD Poverty Bay Herald, Volume LXV, Issue 19700, 4 August 1938, Page 8
Using This Item
The Gisborne Herald Company is the copyright owner for the Poverty Bay Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Gisborne Herald Company. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.