No more gold sales for ECB

The European Central Bank announced on 1 July that it has no intention to sell more gold this year.

The central bank announced that over the past two months, it has conducted gold sales amounting to 37 tons.

It added that "these sales are in full conformity with the Central Banks' Gold Agreement, dated 27 September 2004, of which the ECB is a signatory."

Together with the gold sales of 23 tons, completed on 30 November 2006, the ECB has thus sold 60 tons of gold in the third year of the agreement

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