Cyprus and Malta join gold agreement

Cyprus and Malta, the two newest members of the eurozone, have signed up to the Central Bank Gold Agreement, which limits the amount of gold cooperating institutions can sell.

Malta's and Cyprus's membership takes the number of central banks covered by the agreement to 18.

Under the agreement, which was signed in March 2004 and runs out next year, central bank can only sell up to 500 tonnes of gold per year. The charter also imposes caps on gold leasing and trading in gold futures and options.


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