isopatch and all,
BOE sale results, from Kitco:
Date: Tue Nov 27 2001 07:35
kapex () ID#130128:
Copyright © 2001 kapex/Kitco Inc. All rights reserved
* Gold remains static at $273.20/273.70 a troy ounce at
1218 GMT after the Bank of England sells 20 tonnes of gold by
auction in London, unchanged from levels before the sale.
* BoE sold its 20-tonne tranche of gold at $273.50 a troy
ounce, as part of an ongoing series of regular auctions to
reduce Britain's gold reserves.
* London dealers said earlier they expected a short rally after
the auction, but the lack of consumer demand would act as a
dampener, capping any sharp upward moves.
* BoE said the amount on offer was oversubscribed by 2.6 times,
at a scaling factor of 83 percent.
*******
Considering the weakness in the POG lately, not bad results.
Two more BOE sales left, January and March, then that's it, I don't believe Merry Ole England can sell any more gold and keep the level of gold reserves necessary if they want to join the Euro fiat party later on. Washington Agreement also?
Best,
Roebear |
