ECB says has concluded gold sales of 30 tonnes; no plans for further sales
The European Central Bank (ECB) said it has completed gold sales amounting to 30 tonnes of gold, which increases its gold sales during the fourth year of the central banks’ gold agreement that ends September 26, 2008, to 72 tons.
The ECB said it does not intent to sell more gold during the current year of the agreement.
The 2004 central banks’ gold sales agreement was signed by the ECB, the 12 national central banks of the euro zone and the central banks of Switzerland and Sweden, who agreed to limit their combined gold sales to a maximum of 500 tons per year over a five-year period.
