Monetary gold wikileaks - 1976BERN03913_b

DURING INFORMAL CONVERSATION AUG 31 WITH EMBOFF ABOUT DAILY FOREIGN EXCHANGE AND GOLD MARKET RATES, SWISS NATIONAL BANK FOREIGN EXCHANGE DEPARTMENT OFFICIAL (POPPOS) SAID THAT ZURICH GOLD MARKET MIGHT CLOSE IF GOLD PRICE STAYED AT 100 OR JUST UNDER 100 FOR SEVERAL MONTHS, BECAUSE GOLD SALES WOULD NO LONGER BE PROFITABLE AT THAT PRICE. POPPS SAID THERE HAD BEEN REPORT THAT AT LEAST ONE LARGE GOLD MINE WILL BE CLOSED IF PRICE DOES NOT RISE SOON. GOLD CLOSED AUG 31 AFTER BUSY DAY AT 103.75, OPENING WAS 102.75. DAVIS



Source: https://www.wikileaks.org/plusd/cables/1976BERN03913_b.html

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