PRICE OF GOLD
INCREASE IN AMERICA.
DOLLAR LOSES GROUND.
(United Press Assn.—Telegraph Copyright.)
Washington, December 18.
The United States Government increased its gold price by five cents on Monday to 34.06 dollars. While the new gold price is 34.06 dollars bar gold in London was bringing only 32.48 on the basis of sterling’s opening price of 5.124. The dollar dropped in foreign exchange trading in New York, sterling and the franc leading the advance of all foreign currencies. The dollar closed at 63.39 after opening at 63.80. Sterling advanced to 5.14.1, up 2.1, and the franc to 6184, up four. The stock market steadied after an early decline, limiting the day’s losses to modest proportions. Bonds lost fractionally, while the commodity markets, principally cotton and wheat, after making early gains sold down. The inflationary influences of the increase in the price of gold are being all but ignored.
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Southland Times, Issue 22202, 20 December 1933, Page 7
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148PRICE OF GOLD Southland Times, Issue 22202, 20 December 1933, Page 7
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