Gold soared in New York yesterday after news report of a raid on the pro-Soviet Tudeh party headquarters in Iran led to false rumors that the Soviet embassy in Tehran had been taken over. The dollar was lower.
The price of gold closed in Zurich gold at $613.50, down from Monday's $618.50, and in London at $614.50, down from $618.50.
Gold closed in New York at $634 an ounce compared with Monday's $613.25. The Comex settlement price was $637.50, up from $612.20.
Gold's rise took silver with it. Silver closed at $16.125 an ounce, up from $15.625 Monday. Silver settled at $16.10, up from $15.58.
In Tokyo the dollar rose to 220.15 yen from 219.86 the previous session, and it surged to 221.25 yen in New York.
European closing rates with late New York prices in parentheses:
Frankfurt, 1.7366 marks, down from 1.7402 (1.7405); Zurich, 1.5968 Swiss francs, down from 1.6060 (1.6005); Paris, 4.0340 francs, down from 4.0407 (4.0410); Amsterdam, 1.9027 guilders, down from 1.9055 (1.9027); and Milan, 826.55 lire, down from 828.55 (827.50).