Dollar Lower in U.S., Gold Off

THE JOURNAL RECORD, March 4, 1986 | Go to article overview

Dollar Lower in U.S., Gold Off


NEW YORK (AP) - The dollar declined against most key currencies in U.S. trading Monday after moving generally higher in quiet European dealings.

Gold prices fell. Republic National Bank in New York quoted gold bullion at $338.50 a troy ounce as of 4 p.m. EST, down $1 from Friday's late bid.

Persistent but unconfirmed reports that major industrial nations are considering measures to stabilize foreign exchange markets have subdued trading and made dealers reluctant to alter their holdings significantly, said Alfred Driever, a currency trader with Salomon Brothers Inc. in New York.

According to reports published in the United States and abroad, the exchange rate topic will be high on the agenda when the seven-nation summit is held in Tokyo in May. Government representatives from the United States, Britain, France, Japan and West Germany are reportedly meeting in London March 8-9 to lay the basis for the summit discussions.

That same group of five countries agreed last September to join in pushing the dollar's value down. Since then the dollar has fallen sharply.

Currency dealers in Europe said investors there ignored reports that West Germany's central bank, Bundesbank, was preparing to cut its discount rate from 4 percent to 3.5 percent. The discount rateis the interest rate charged on loans to commercial banks. Lower interest rates make a currency less attractive to investors.

In London, the British pound was shaken by another round of oil price cuts. It fell to $1.4405 from $1.44775 late Friday and slumped to a new low against the West German mark, falling below 3.20 marks for the first time. Britain is among the world's leading oil producers.

By late in New York, the pound had recovered a bit to $1.445, compared with $1.4420 late Friday. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Dollar Lower in U.S., Gold Off
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.