BOE gold auction fifth of six planned auctions

UK - The Bank of England Wednesday auctioned 20.0 metric tons of gold, or 643,200 ounces, at an allotment price of $283.50 per troy ounce.

The central bank said a total of 881,200 ounces of gold was bid for, with 643,200 ounces allotted, giving a bid-to-cover ratio of 1.4.

This was the fifth of six auctions offering a total 120 tons of gold for sale on behalf of the U.K. Treasury, as stated in March 2001.

The final auction will be held 5 March.

To continue reading...