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Gold/Mining/Energy : Gold Price Monitor

GDXJ 109.23

+3.7%

Nov 28 4:00 PM EST

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To: hunchback who wrote (32835)	4/29/1999 2:45:00 PM
From: Enigma	Read Replies (1) of 116788

The sales were by auction, I believe 600,000 oz. a pop, and as far as I remember, they were always oversubscribed and the price kept rising - these were the sales in the late 70s or early 80s - there were also I think sales around this time by the US Treasury Dept - so I may be confusing one with the other. If there was an intention at the time to keep a lid on the price it backfired - it was like pouring gas on an open fire. I don't think the numbers were ever divulged but it was rumoured that some auctions were oversubscribed by 5 X the amount offered. d

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