I.M.F. sells gold
NZPA Washington The international Monetary Fund has sold 524,800 ounces of gold at an average price of $U5177.92 an ounce at its monthly gold auction. Accepted bids ranged from $177.61 to $180.26 an ounce, and bids totalled 1,367,000 ounces.
the auction was held under the bid price method, under which each successful bidder pays the price they actually offered.
The proceeds from the latest sale totalled $70.6M, and the money will be added to a trust fund which makes I loans to the world’s poorest nations.
The latest auction brought the amount raised for the fund to $1250M.
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Press, 11 April 1978, Page 22
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101I.M.F. sells gold Press, 11 April 1978, Page 22
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