With European central banks unlikely to opt to sell the maximum allowable 500 metric tons of gold in their annual quota, gold prices should benefit from the reduced physical supply, according to a report by London-based consultancy Virtual Metals Ltd.
The 15 central banks under the European Central Bank Gold Sales Agreement, or CBGA, are entitled to sell 500 metric tons of gold a year under the agreement, but sales only stood at 331 tons at the end of July, the report said.
Failure to sell th
- Making the rules and breaking the mould (Allan Meltzer: 1928–2017)
- BoE economists criticise DSGE inflation modelling
- Indonesian deputy Perry on revolutionising monetary and financial policy
- Commission should have power to order CCPs to relocate to EU – Cœuré
- Indonesian banks will switch to reserves averaging in July
Back to Top