GOLD PRICE ADVANCE
——♦ POSITION OF STERLING EARLY RECOVERY LIKELY. [ British Official Wireless, ] ’ RUGBY, Sept. 1. A further advance of 5Jd in the price of gold to the new high record of £7 Is 3d took place tc-dcy, the increase on yesterday’s price being based on supply and demand, and including a premium i- of 2s 4d over the dollar at 4.99 7-8 and y 7d over the franc at 74 23-32. Sterling e is slightly firmer on most of the princie pal centres to-day. The downward s movement of the past few days has g caused no anxiety in city financial ciri- cles, where there is a confident belief that it is mainly due to “bear” sales, "■ and that the covering of such operas tions will shortly produce a recovery e in the rates It is realised that uc e change has occurred in the economic s situation of the country to warrant !- the depreciation. y -
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/WC19340904.2.27
Bibliographic details
Wanganui Chronicle, Volume 77, Issue 209, 4 September 1934, Page 5
Word Count
156GOLD PRICE ADVANCE Wanganui Chronicle, Volume 77, Issue 209, 4 September 1934, Page 5
Using This Item
NZME is the copyright owner for the Wanganui Chronicle. 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 NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.