Gold sale for poor
NZPA-Reuter Washington
The International Monetary Fund has sold a further 700,000 ounces of gold to raise money to aid the poorest of the developing nations. The profits from the gold sale, about BUSS4M, will be placed in a special trust ft nd that will make virtually interest-free loans to about 61 of the world’s neediest countries. Despite a sharp drop in the price of the metal on the open market in recent weeks, the auction, the third in a series scheduled to be carried out over the next four years, was the mosh successful held so far. Winning bids ranged from ia low of 5U5108.76 an ounce Ito SUSII4. The average price was 5U5109.40, about |two dollars below the closing price in the market on Wednesday.
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Press, 17 September 1976, Page 5
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130Gold sale for poor Press, 17 September 1976, Page 5
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