New monetary crisis looms as Gold soars

London, May 15, 1973 — A severe international monetary crisis intensified today as gold prices surged to a record $128.50 per ounce on the London market.The metal’s rapid ascent, rising over $25 in just two days, has triggered a sharp decline in the US dollar, which plummeted by 10% against major European currencies. Financial experts warn that this 25% spike in gold value within a single week signals a collapse in the current exchange system, leaving central banks struggling to maintain global fiscal stability. The post New monetary crisis looms as Gold soars appeared first on Egyptian Gazette.