Gold edged down in nervous trading in Europe yesterday and fell sharply in New York as indications of a disappointing U.S. gold sale caused heavy selling.
The dollar rose again in Japan but was lower on all European money mar- kets that were open except London. Dealers said the losses were small in light of the unfavorable U.S. trade figures, Paris, Brussels and Milan were closed for the All Saints Day holiday.
In Zurich gold inched down to close at $378 from $382 Wednesday. In London it fell to $380 from $382.50. In New York gold fell to $370.50 at the close, but was down to around $362 for a short time before rallying near the end of trading.
In Frankfurt, the dollar eased to 1.79931 marks from Wednesday's close of 1.8040; in Zurich to 1.6527 from 1.65925 and in Amsterdam to 1.9985 guilders from 2.0030.
In London, however, the pound fell to $2.0720 from $2.0760 and London dealers attributed the drop to "late selling pressure from New York."
In Tokyo, the dollar ended the day at 238.05 yen, up 0.25 point from 237.80.