More activities were soon last week, and a gradual upward trend was ap: arent during the greater part of this 39%] period but at the end the market saw large drop.
Preponderant bulls lifted the price to $765.0, about $10 higher than the closing of the previous week, at the official opening tu Monday, and supported by the news that banks were good buyers of exchange they advanced the market to $770.50, The continued weakness in foreign silver markets was responsible for another rise in the price of the local Gold Bar on Tuesday. Business commenced at about $776, but taking advantage of the situation longs began to sell out, depressing the market to $767.20. Later heavy buying deve-oped on Bombay Silver being reputed to have registered a drop of amnas, forcing the price "up" to $778 again, Wednesday being the Chinese Dragon Boat Festival the market was Influenced by troubles brewing in the North, speculators began selling heavily on 'Thursday, depressing the rice to $710.50, but' the suggestions of a change in the USA. silver policy, together with the decline in the price of Bombay Silver, caused the market to react, pushing it up to the high of the week, $779.80. But on the next day with news reporting. a more serious situation in the North, the existing bad sentiment became. worse, and the market declined to $767.
There was a featureless market on Saturday, fluctuations. being confined to between $765.70 and $771.80 only. Monday Average satura a Opening $165.20 "Highest $7850
Closing $169.00 Lowest $70850 we rage Highest" $17880 at 407. pin.
Lowest $161.60 at 919 am. on
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