• Short Summary

    FRANCE'S FRENZIED GOLD RUSH SENT THE TURNOVER OF THE PARIS BULLION MARKET SOARING TO ABOUT 31 MILLION FRANCS (GBP2,630,000 STERLING AT THE NEW RATE) TODAY (THURSDAY) AS HUGE PURCHASES OF GOLD CONTINUED.

  • Description

    1.
    GV EXT. PLACE DE LA BOURSE
    0.05

    2.
    GV PEOPLE ENTERING BUILDING
    0.10

    3.
    SV INT. MAN WITH BAR OF GOLD WALKS UP TO CALCULATING MACHINE
    0.17

    4.
    CU GOLD BAR ON TABLE
    0.23

    5.
    CU MAN WORKING CALCULATING MACHINE
    0.27

    6.
    GV LONDON OFFICE BLOCK
    0.33

    7.
    GV BUSINESSMEN LEAVING (2 SHOTS)
    0.40

    8.
    CU INT. MR MOCATTA ON TELEPHONE
    1.36


    TRANSCRIPT: MOCATTA: "I SEE, O.K. THANK YOU, GOODBYE."



    REPORTER: "MR. MOCATTA. IT'S BEEN A SECOND DAY OF VERY HEAVY TRADING HOW DOES THAT COMPARE WITH A NORMAL DAYS WORK?"



    MOCATTA: "OH IT'S VERY MUCH BIGGER TODAY. YESTERDAY AND TODAY, I MEAN TODAY, WAS BIGGER THAN YESTERDAY. THE WHOLE THING IS MUCH BIGGER THAN NORMAL."



    REPORTER: "AND YET THE PRICE OF GOLD HAS REMAINED THE SAME TODAY AS YESTERDAY?"



    MOCATTA: "YES BECAUSE SO LONG AS THE GOLD AS POOL WANT TO KEEP THEIR MAXIMUM SELLING PRICE AT 35.20 THEN THE PRICE DOESN'T MOVE."



    REPORTER: "HOW LONG CAN WE SUSTAIN REPLYING SATISFACTORILY TO SUCH A MASSIVE DEMAND FOR GOLD?"



    MOCATTA: "WELL, THE AMERICAN RESERVES ARE VERY LARGE AND THIS IS BASICALLY AN ATTACK ON THE DOLLAR."



    REPORTER: "FROM WHERE YOUR SITTING THIS LOOKS LIKE AN ATTACK ON THE DOLLAR DOES IT?"



    MOCATTA: "THERE'S NO QUESTION ABOUT IT."



    REPORTER: "FROM FRANCE?"



    MOCATTA: "NOT NECESSARILY FROM FRANCE. WELL, I MEAN THE MASSIVE BUYING COMES FROM SWITZERLAND."



    REPORTER: "HOW LONG IS IT IN YOUR EXPERIENCE SINCE YOU HAD TWO DAYS LIKE THESE LAST TWO?"



    MOCATTA: "NEVER."




    Initials JSU/V AND B/CR/SGM



    Script is copyright Reuters Limited. All rights reserved

    Background: FRANCE'S FRENZIED GOLD RUSH SENT THE TURNOVER OF THE PARIS BULLION MARKET SOARING TO ABOUT 31 MILLION FRANCS (GBP2,630,000 STERLING AT THE NEW RATE) TODAY (THURSDAY) AS HUGE PURCHASES OF GOLD CONTINUED.

    THIS ALMOST DOUBLED YESTERDAY'S (WEDNESDAY'S) FIGURE OF 17 MILLION FRANCS (ABOUT GBP1,440,000 STERLING). LONDON AND ZURICH REPORTED SIMILAR HEAVY PURCHASES FOR THE SECOND DAY FOLLOWING BRITAIN'S 14.3 PERCENT DEVALUATION OF STERLING LAST SATURDAY (18 NOV).

    FINANCIAL EXPERTS SEE THE BIG GOLD RUSH AS PART OF A WIDESPREAD SUSPICION OF PAPER MONEY, INCLUDING THE UNITED STATES DOLLAR.

    IN LONDON WHERE THE OFFICIAL PRICE IS FIXED EVERY MORNING THE DEMAND FOR GOLD WAS FULLY MET AND THE PRICE STAYED THE SAME.

    MR. MOCATTA, THE HEAD OF A LONDON BULLION FIRM WAS QUESTIONED ABOUT THE TRADING.

  • Tags

  • Data

    Film ID:
    VLVAEC3HNT713BXSRGV4S8Y7W5BUR
    Media URN:
    VLVAEC3HNT713BXSRGV4S8Y7W5BUR
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    23/11/1967
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:01:36:00
    Time in/Out:
    /
    Canister:
    N/A

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