Correct, the last series of 6 auctions were 25mt, and ended March 24, 2001:
"On 3 March 2000, H M Treasury announced that, the Bank of England, on behalf of HM Treasury, is to sell approximately 150 tonnes of gold from the Exchange Equalisation Account in a programme of six auctions of around 25 tonnes each in the financial year 2000/2001 on the terms and conditions set out in an Information Memorandum which was published on 3 March 2000. Five auctions were held on Tuesday 23 May, Wednesday 12 July, Tuesday 19 September, Tuesday 7 November 2000 and Tuesday 23 January 2001. This is the final auction in this financial year."
The first auction of the current 20mt series was completed May 15th:
"On 7 March 2001, HM Treasury announced that, on behalf of HM Treasury, the Bank of England is to sell approximately 120 tonnes of gold from the Exchange Equalisation Account in a programme of six auctions of around 20 tonnes each in the financial year 2001/2002 on the terms and conditions set out in an Information Memorandum which was published on 7 March 2001. This is the first auction in this programme of six. It is intended that the remaining five auctions will be held on dates to be announced in July, September and November 2001 and in January and March 2002. These sales will bring to an end the programme to restructure the United Kingdom’s official reserves that was announced by HM Treasury on 7 May 1999."
REF: bankofengland.co.uk |
