GOLD PRICE FIXED AT £8/8/6 PER OZ.

Grey River Argus, 14 October 1948, Page 4

GOLD PRICE FIXED AT £8/8/6 PER OZ.

AH Must go to Reserve Bank P.A. WELLINGTON, Oct. 13 Gold producers are now required co uiier cneir entire production to the Reserve Bank Tor purchase ac sucn price as may determined by rhe Minister, Having regard co the currenc price of gold in London.” This is in accordance with Regulation 5 of the Finance Emergency Regulations (No. 2) 1940, which also provided for the regulation to come mt.o lorce on a date to be specified by the Minister by notice published in the gazette. This nonce was published on August 19, 1948. "Arrangements have been made for the Reserve Bank .acting thiougn those branches of the trading banks at present holding gold ciealeto' licenses, to purchase gold from the producers at. the uniform rate of £8 8s bd per fine ounce, for gold delivered for sale in a clean melted form,” says a statement issued by the Reserve Bank. “For gold that, requires cleaning and melting, the price to be paid will be £8 8s 6d per fine ounce, less a charge of one-quarter per cent., on the value of the gold to cover the cost of doing this necessary work. “To enable manufacturers and dentists to obtain supplies of refined gold, arrangements have been made for those licensed gold dealers, posessing the facilities to refine gold, to supply the specialised needs of these people, in the form of granulated pure gold, or alloys, at a maximum price of £9 per fine ounce.”