This Commentary is concerned mainly with events during the three months from February to April. At the end of February renewed fears about possible changes in U.S. gold policy stimulated a heavy demand for gold. During the next two weeks speculation in gold increased alarmingly. By the middle of March sterling had come under heavy pressure, there were signs of a flight from currencies into gold, and there was much talk of a breakdown in the international monetary system .
Published on
01 June 1968
Commentary