N e w s

On Tuesday gold traders were finally relieved to know that the long-expected auction of the gold of the Bank of England has taken place. Its results turned out to have a much less dramatic effect on the precious metal market than expected. The fifth auction was a disappointment to its organizers. Despite the fact that all the gold - 804 400 troy ounces - was bought up at $285.25 an ounce, the investors did not show any significant interest in the auction. Now investors are getting ready for the auctions of the Bank of Switzerland. /Kommersant (newspaper)