§ Mrs. Fyfe
To ask the Chancellor of the Exchequer if he will estimate the effect on the price of gold of sales to date of UK gold reserves; and what effect this will have on the revenue from IMF sales of gold intended to benefit poor countries. 
§ Miss Melanie Johnson
[holding answer 14 March 2000]: The Government's policy is to sell gold in an orderly, prudent and transparent way, in order to minimise the impact on the market. The price of gold is at around the same level as it was on the day prior to last May's announcement.