Bank of France to sell some gold reserves

The French Finance Ministry said in a statement on Friday 19 November that discussions on the sale of a portion of France's gold reserves have been finalised with the Bank of France.

Bank of France Governor Christian Noyer confirmed his intention to sell 500 to 600 tons of the 3,000 tons of gold kept in vaults underneath the Bank of France headquarters in Paris over the next five years, the Finance Ministry said in a statement Friday.

The sale will be accompanied by an increase in cash reserves

To continue reading...