2010/12/05

Central banks sold 20 tonnes of gold






so far Came in London: Reuters, World Gold Council said yesterday that total sales of gold in the framework of the central banks for the third gold of 20.4 tons only in the second year of the agreement so far, noting that most sales were from the International Monetary Fund. The council explained that the sales of the Fund in the current year of the life of the Convention, which began in September, 19.5 tons by October 31. The Convention sets out the roof of the third sales of the participating States at 400 tons per year. Most of the participants in the Convention European central banks. And implement the IMF, they do not enjoy full membership of a series of planned sales of gold under its umbrella. In terms of gold prices rose to near $ 1390 an ounce (ounce) yesterday and scored new highs in euro and pound sterling, amid fears the spread of the debt crisis of the euro area, which raised the purchase of precious metal as a safe haven. Analysts said that while it is also natural that reinforced the recovery of the euro price of gold from the lowest level in 11 weeks against the dollar, but buying the metal as a safe haven, which led the rise.

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