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Gold/Mining/Energy : Gold Price Monitor
GDXJ 92.99+2.9%Nov 7 4:00 PM EST
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To: d:oug who wrote (80804)1/16/2002 8:05:52 AM
From: Secret_Agent_Man  Read Replies (1) of 116753
 
d:oug, Payment must be made in US dollars to the Bank
of England's account at the Federal Reserve Bank of New
York

BoE sold at 283.5
bankofengland.co.uk
News Release -
HM Government Gold Auction Result: 16 January 2002

16 January 2002

The Bank of England announces that the gold on offer
(approximately 20 tonnes or 643,200 ounces) has been
allotted in full at a price of $283.50 per ounce. Details of the
result are as follows:

Amount of gold on offer (approx.) 643,200 oz
Amount applied for 881,200 oz
Times covered 1.4 times
Amount allotted to bidders 643,600 oz
Allotment price $283.50
Scaling factor at allotment price 61.3334 %

All accepted bids which were made at prices above the
allotment price have been allotted in full at the allotment
price. Valid bids made at the allotment price have been
allotted an amount of gold equal to the amount bid for
multiplied by the above scaling factor and rounded up to the
nearest 400 ounces.

By close of business in London today, applicants whose bids
have been successful in whole or in part will be notified by
the Bank of England of the exact weight of the gold bars
allotted to them and the amount payable in respect of their
purchase. Payment must be made in US dollars to the Bank
of England's account at the Federal Reserve Bank of New
York, no later than 12 noon New York time on 18 January
2002.

i'm wondering...boe want's payment to go to fed reserve in new york in us dollars? who's gold did they sell? perhaps that's typical...just looks weird...does the boe represent the us stores of gold?<vbg>
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