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Volume 410: debated on Friday 19 September 2003

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To ask the Chancellor of the Exchequer what recent assessment he has made of the world market in gold bullion. [131389]

The Treasury monitors developments in the gold market on a daily basis and receives ongoing advice and analysis from the Bank of England. We are well aware of recent developments, including dehedging operations by gold producers that have resulted in upward pressure on the US dollar price of gold.