Commentary

Quarterly Bulletin 1968 Q2
Published on 01 June 1968

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 .

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