BUSINESS ABROAD: Free Market for Gold

In an oak-paneled office on St. Swithin's Lane this week, six representatives of London's leading bullion houses gathered and quietly exchanged bids for the purchase and sale of gold bullion. At the end of the session, they fixed an official price of $34.976 an oz. v. the $34.9125 paid by the U.S. Treasury. By their action, in the "gold-fixing room" of Bullion Dealers N. M. Rothschild & Sons, the six men* gave the world its first official free-gold market since the war ended the meetings in the fixing room. The dealers hoped...

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