Salt Lake Telegram | 1938-08-08 | Page 17 | European Gold Rush Continues

EUROPEAN GOLD BOLD RUSH CONTINUES LONDON Aug 8 UP The UP-The The U-The The rush of European capital into the te United States dollar dolar and bar gold was resumed today toay both the te American Amen Ameri Amer- Amer can unit and gold being driven up to o the highest levels since March te 30 last year Gold takings today were pounds pound bringing to t 10 pounds pound the te amount which has been taken since the he gold rush got under way last lat Tuesday Peak of the current curent movement was set last Wednesday when al almost almost almost al- al most in the metal was taken in the official market market Renewal of the flight was attributed attributed attrib attrib- to revived anxiety over the Russo-Japanese Russo situation and to Increasing Increasing in- in creasing belief belef that the pound sterling ster- ster ling ing will wi undergo some devaluation Regarding the latter later there tere were rumors that the pound would be cut to its it old dolar dollar parity coincident coincident coincident dent with signing of an Anglo- Anglo American trade accord