I.M.F. raised $72.8M
NZPA-Reuter Washington The I.M.F. has sold 524,800 ounces of gold a* an average price of $U5181.95 an ounce at its monthly gold auction. It accepted bids ranging from $181.13 to .$185.76 an ounce. The auction was held under the bid price method, under which each successful bidder pays the price offered. The I.M.F. received bids totalling 1,418,000 ounces for the total of 525,'000 ounces of gold on offer. The proceeds of about $72.8M will be placed in the I.M.F.’s trust fund which makes concessionary loans to about 60 of the world’s poorest nations. The proceeds from the auction brings the total raised for the trust fund to about SII7OM. As in the past, the I.M.F.
elected not to sell more gold than the amount specified in the original offering. The next auction is scheduled for April 5.
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Press, 4 March 1978, Page 19
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140I.M.F. raised $72.8M Press, 4 March 1978, Page 19
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