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Dollar Rises; Gold Mixed

March 05, 1985|Associated Press

LONDON — The dollar edged toward record levels early today, shaking off the side-effects of last week's heavy central bank intervention. Gold prices were mixed.

The British pound lost another half-cent early today on top of a nearly two-cent fall Monday. In London, the pound was quoted at $1.0638, compared to $1.0697 on Monday. Sterling fell to an all-time closing low of just under $1.05 a week ago.

Other dollar rates at mid-morning in Europe, compared to late rates Monday, included: 3.4180 West German marks, up from 3.3680; 2.9090 Swiss francs, up from 2.8880; 10.4350 French francs, up from 10.3035; 3.8700 Dutch guilders, up from 3.8175; 2,122.00 Italian lire, up from 2,097.75, and 1.3975 Canadian dollars, up from 1.3930.

Gold opened in London at a bid price of $288.75 an ounce, compared to late Monday's $288.25. At mid-morning, the city's five major bullion dealers fixed a recommended price of $288.85.

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