ECB says it sold 42 tons of gold

MNB

The European Central Bank said on Monday it had completed gold sales amounting to 42 tons in line with 2004 agreement.

The European Central Bank said the sales, which were completed on Nov 30, were in full conformity with the Central Banks’ Gold Agreement of September 27 2004, of which the bank is a signatory. Under the current five-year agreement, which includes central banks from the Eurosystem, the UK, Sweden and Switzerland, banks agreed to limit combined annual sales to a total 500 tons of gold a year until 2009. The agreement expires in September 2009. The quota year runs from September 27 to September 26. (rte.ie, Bg)

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