Bank of Portugal offloads 10 tonnes of gold

The Bank of Portugal has said it has sold 10 tonnes of gold from its reserves over the past month.

The aim is to diversify the central bank's reserves. The proceeds will be held in a special reserve, it said.

The Bank of Portugal had sold 35 tonnes of gold this July, and had sold 20 tonnes last December.

The sales are part of an agreement signed in Sept 2004 by the ECB and the European national banks. It limits annual gold sales to 500 tonnes by 2009.

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.