Gold at 20-yr low in London

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INDIAN EXPRESS FRONT PAGE
Politics	Business	Expressions	General
World	Sports	Leisure	States

Thursday, May 20, 1999

Gold at 20-yr low in London

LONDON, MAY 19: Gold prices fell to their lowest level for 20 years here today, dipping as low as 272.75 dollars an ounce on a market still depressed at Britain's announcement 12 days ago that it would sell more than half of its gold reserves.

Britain's announcement moreover came on top of a decision by the Swiss authorities to break the link between gold and the Swiss franc and to sell some gold to raise funds to compensate Nazi victims.

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