Finance & Development, September 1976 [electronic resource]
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TextSeries: Finance & Development; Finance & Development, Volume 13 ; No. 3Publication details: Washington, D.C. : International Monetary Fund, 1976Description: 1 online resource (48 p.)ISBN: 1616353260 :ISSN: 0145-1707Subject(s): Gold | Inflation | International Monetary System | Monetary Fund | Monetary System | Afghanistan, Islamic Republic of | Egypt | Jamaica | Philippines | SamoaAdditional physical formats: Print Version:: Finance & Development, September 1976Online resources: IMF e-Library | IMF Book Store Abstract: This paper highlights that the IMF, as Trustee for the Trust Fund, held the first of its series of gold auctions on June 2, 1976, with the sale of 780,000 ounces of gold-the total amount offered-at a common price of US
This paper highlights that the IMF, as Trustee for the Trust Fund, held the first of its series of gold auctions on June 2, 1976, with the sale of 780,000 ounces of gold-the total amount offered-at a common price of US 26.00 a fine ounce. The first gold auction was a success from the point of view of both the market and the IMF. In all, a total of 25 million ounces of gold from the IMF's holdings will be sold at auction over a four-year period.
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