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Gold/Mining/Energy : Gold Price Monitor
GDXJ 113.22-0.5%Jan 2 4:00 PM EST
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To: pater tenebrarum who wrote (56248)7/14/2000 1:11:12 PM
From: Rarebird  Read Replies (1) of 116837
 
I think it's possible that the BOE had leased out much of its gold reserves at the time and was in danger of not getting their gold back. That is why they publicly announced on May 7, 1999, that they were selling their gold via auctions.

I don't think the BOE was dumb or stupid. I think the BOE had much more to lose if the POG continued to rally at the time.
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