WORLD number one gold producer AngloGold Ltd said on Monday that it bought a substantial portion of the Bank of England’s third bullion auction and used the purchase to unwind part of its hedge. “We did bid at the auction and bought 300000 ounces. We have a large hedge and it suited our purposes to take in the gold,” marketing director Kelvin Williams said. The Bank of England earlier sold 804 _000 ounces of bullion at $293,50 per ounce in the third of a series of auctions designed to cut Britain’s 715-ton reserves by 415 tons. AngloGold, which disclosed in its September quarterly results a hedge of roughly 430 tons of gold, said it had short-sold contracts maturing in the next week to 10 days and the auction had been an efficient way to cover the commitment.