long-gone,
BOE Sale, from Kitco:
Date: Wed Jul 11 2001 08:06
Mr. Barrick (BOE AUCTION) ID#336246:
Copyright © 2000 Mr. Barrick/Kitco Inc. All rights reserved
LONDON, July 11 ( Reuters ) - The Bank of England sold 20 tonnes of gold, or 643,600 ounces, on
Wednesday at $267.25 a troy ounce -- a price just above market expectations.
The sale was 4.1 times oversubscribed, with a scaling factor of 48.2353 percent applied to the successful bids at
$267.25, the Bank of England said in a statement.
The auction attracted bids totalling 2,610,400 ounces.
Bullion dealers had expected an auction price around the morning fix of $266.55 and a cover ratio of 4.1 times
was seen as a healthy demand level.
The auction was the second sale in a final third series of smaller sales under a plan to cut Britain's 715-tonne gold
reserves to around 300 tonnes. The next sale will be on September 12, the Bank of England said.
( ( Sara Marani, London Newsroom +44 020 7542 8058, fax +44 020 7542 8077
london.commodities.desk@reuters.com ) ) .
Best,
Roebear |
