London Gold Fixes At Fresh Recent Low

Gold was fixed at $380.45 after $382.05 on Thursday morning. It was the lowest gold fix since September 6, 1995.

The low fix followed a statement from IMF head Michel Camdessus that the organisation had a majority in favour of selling gold to help the world's poorest nations.

Earlier investment fund selling had put pressure on an already soggy market.

Everybody was saying they wanted to see $380 at the expiry. In fact the number was reached before that,