Riksbank to sell 10 tonnes from gold reserves

Sweden's Riksbank said on Friday 29 September it intends to sell up to 10 tonnes of its gold reserves between Sept 2006 and Sept 2007, in order to obtain a better risk-adjusted return on the its assets.

The proceeds from the sale will be reinvested in the foreign exchange reserves (securities denominated in foreign currency).

It said the sale is in compliance with the Central Bank Gold Agreement (CBGA) signed by 15 European central banks and running for five years from Sept 27, 2004. During tha