The price of gold jumped more than $2.50 an ounce in major European centers yesterday, while the dollar continued to sag.
Continued doubts over the ability of President Carter's administration to bring American inflation under control undermined the dollar, London dealers said.
Gold was buoyed by the announcement by the U.S. Treasury that it has no intention at this time to hold further auctions of the metal.
Gold closed at $152.95 an ounce in London, up from $150.25 Tuesday. In Zurich, the price moved up from Tuesdays $150.125 to close at $152.625.
The dollar lost over half a Swiss centime in trading in Zurich to close at 2.5175 Swiss francs while it dropped 1 1/4 Dutch cents in Amsterdam and closed at 2.4775 guilders. The dollar's slide was total - even against Europe's weakest currencies: the British pound, French franc and Italian lira.
The pound edged up from Tuesday's $1.7192 to $1.7197 despite Bank of England action to hold back the rise of sterling by buying dollars. In Paris the dollar erased slightly from Tuesday's 4.9675 francs to 4.9670 and in Milan it edged lower from 887.25 lire to 887.10.