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WGC confirms 475 gold tons sold by central banks

According to the World Gold Council (WGC), signatories within the Central Bank Gold Agreement of 27 September 2004 are expected to have sold 475 tons of gold in the third year of the current agreement.

This is up from 395.8 tons sold in the second year of the agreement, closer to the 497.2 tons sold in the first year. Under the current five-year agreement, central banks agree to limit combined annual sales to 500 tons of gold. Virtual Metals estimated the same amount of 475 tons yesterday. See RI’s coverage for more details. (