Mocatta & Goldsmid's Reports Reporting on the London market on October 4, Messrs. Mocatta, Goldsmid state:—
The market has again shown considerable activity -during the past week and after falling 31gd. gradually recovered to 32}d. quoted on the 2nd instant. Since then, there have again been resales by Infita of silver bought for shipment and we have reacted to 314d. which is the quotation to-day.
Owing to the fact that most of the Indian demand was for near delivery and that China having no more easly dates fo sell, has been sabling forward, the difference has again widened, being as much as %d. on the 2nd instant, whilst to-day itis 4d.
Gold.—The bulk of this week's arrival has been shipped to America as the demand from India has again been small, the steamer that left Durban this week however, has taken a considerable amount direct to Bombay.
Describing the situation on October 11 Messrs. Mocatta say There has again been great activity in the silver market during the past week and owing to some selling from CHina, offerings from America and rumours of financial difficulties in Bombay, the price fell to 31$4. and 31d. on the 8th instant. As this level the pressure to sell was less insistent and with India sending buying orders for shipment this week for more silver than was available in the market, the price recovered to 31§d. on the 10th instant from which there has since been a smal] reaction, Although sellers are not pressing, we have not a very favourable opinion "of the market in view of the large stocks in and on thi way to Bombay and the fact that China at the moment is a very reluctant buyer.
Gold.—There has been very little inquiry from India and the bulk of this week's arrival will go to New York. The price has varied between 96/7d. and 90/44.
Under date, October 18, Messrs. Mocatta & Goldsmid report:—- since the departure of last week's steamer to India, which took nearly £500,000 silver, the demand from India has been res-tracted to limited amounts for forward dates, and business has been on a small scale. China has been more inclined to sell than to buy, and America has offered rather more freely, but the volume of business has not been sufficient to appreciably affect the quotations, Stocks have been completely absorbed by last week's shipment since' when, there have been practically no arrivals, but there is silver on the way from New York, which will be available here next week.
Gold.—There has again been very little inquiry from India and this week's arrival have been
Text read from the printed page and cleaned; old type leaves the occasional error.