63 sovereigns of gold received to flood relief fund to be auctioned
Thiruvananthapuram: The finance department has started the procedures for auctioning the gold received to the Chief Minister’s Distress Relief Fund (CMDRF) in connection with the flood relief. A total of 510 grams (63.75 sovereigns) gold was contributed to the CMDRF so far. Rs 14 lakh is expected through the auction of the gold.
The gold, which includes from bangles of babies to coins, was received from 60 individuals. Gold Appraiser from KSFE was appointed to evaluate the quality and price of the gold. 308.3 grams of gold was of 916 purity and 197.4 grams was of 22 carat purity. 4.3 grams of gold was of 20 carat purity.
Normally, the gold contributed to the CMDRF is auctioned after evaluating its quality and price. Banks purchase the gold in auctions. Sources from finance department said that the gold donated to CMDRF during Tsunami relief works also was purchased by banks. Quotations are invited for the auction.
Among the gold, 50 sovereigns were donated by couples. A woman from Ernakulam contributed a necklace of six sovereigns. Rest of the gold were donated in small quantities. After selling the gold, the contributors will be provided receipt of equivalent amount.