10 JANUARY 1969, Page 25

Prophets and prophecies "

Sir: Nicholas Davenport seems to think that as a result of 'current well-informed discussion .... gold is no longer revered except by Arab sheiks and French hoarders' (3 January).

. Why, then, are Americans and UK residents forbidden to buy gold? It must be hard, even for Nicholas Davenport, to assess demand when many of those who. might want gold are subject to severe penalties if they try to buy it.