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Dollar Mixed as Gold Prices Fall

October 22, 1985|Associated Press

NEW YORK — The dollar was mixed in the United States on Monday after moving lower against most major currencies in overseas trading.

Gold prices declined. Republic National Bank in New York quoted gold bullion at $326.25 an ounce, down 25 cents from Friday's late bid.

In trading abroad, the dollar fell as currency traders remained preoccupied with the possibility of central bank intervention.

West Germany's central bank sold a small amount of dollars in Frankfurt, dealers said.

Apart from that sale, there were no reports of intervention.

Joanne Miola, a corporate adviser at Credit Suisse in New York, said the dollar moved higher against some currencies, including the West German mark, and finished near the day's highs.

The advance probably represented an attempt by traders to determine what exchange rates will prompt the central banks to sell dollars, she said.

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