Salt Lake Telegram | 1931-09-23 | Page 12 | Silver Keeps on Its Upward Trend

SilVER KEEPS ON ITS TREND NEW YORK Sept 23 ff W Silver prices and currencies based on that metal continued to advance today tay Bar Bal silver sUver at New York was wa quoted quoted ed at 29 2 1 cents an ounce up 8 7 of ofa a cent from yesterdays yesterday's final level the highest highet sin since sino e July 3 and ad 2 cents under the years year's yeas yea's high established March 16 It I was 4 5 16 cents cent above the ary bottom level touched in i a. a Silver Siver has tar far Cr t to t go to reach reah what would be regarded as a a. satisfactory level level Some authorities have spoken of stabilizing It at 50 cents cent an ounce around which it i has averaged for the past pat several years save duri during the postwar Inflation v when it sold as as high as cents Today's Toay's ad advance nce in the tha metal more than canceled yesterdays yesterday's reaction reaton of or 8 5 of ot a cent which followed a again again gain of 1 2 1 cents Monda Monday Speculative Interest in silver siver has received marked impetus from the British lapse laps from the gold standard Bankers and and traders in i Wall VaIl Wal street are still highly uncertain as a to t how the British situation may eventually affect this metal mets meta but if i It results in ina a degree dege of commodity price inflation it Is felt faIt that silver may be b markedly marked affected While other countries may al also o be ba carried ered off of the gold standard b by En England En- En gland bankers say sy there is I little likelihood like Uke- that any country will embrace embre silver as a monetary standard although India Indi may conceivably return to it it or at least leat halt sales of the metal which have had such a depressing In Influence In- In I- I fluence In i the past two years yea 4 I