Gold

Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 29 November 1973.

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Photo of Mr Anthony Barber Mr Anthony Barber , Altrincham and Sale 12:00, 29 November 1973

The position is quite clear. Under Article IV of the IMF Agreement, monetary authorities are not permitted to buy gold at above the official price. That is the legal position, and we shall abide by it. Under the same article, sales have always been permitted in the free market above the official price.