PRICE OF GOLD

Hokitika Guardian, 16 November 1933, Page 4

PRICE OF GOLD

FURTHER INCREASED IN U.S.A. FOREIGN PURCHASE CONTINUES. (United Press i jsociation—By Electn* Telegraph—Copyright.) f NEW YORK, November 14. i The dollar broke to evil war time levels to-day on the further increase -j by the Government of its price for. gold, and a renewed flight of capital ' abroad. Sterling and the franc soared. The* dollar touched 60.37 cents in terms of gold. Later it went up to 60.93; cents. The gold price is now 33.56 per ounce, being up 11 cents. Sterling to-day touched 5 dollars 33 cents, which is a new peace time high level. It closed at 5 dollars 26 cents, being up ten and a half cents. M The exchange operators ‘ report there are almost panic conditions, as dollars', are being offered everywhere, with few takers. While commodity prices have moved upward on the cheapened dollar securities closed weak on heavy selling and Government bonds were off . fractionally. The Government are proceeding; slowly in their foreign gold purchases,, which so far aggregate about six million dollars. The President indicates that there is vo indention or abolishing or , r modifying this policy.