Portugal sells gold to diversify reserves

Bank of Portugal sells gold for "diversification of the external reserves".

Source: Reuters

The Bank of Portugal has sold 30 tonnes of its gold reserves this month, the central bank said in a statement.

The bank said the sale was aimed at diversifying the country's external reserves, similar to previous announced sales.

The bank will retain proceeds in a special reserve. The sales were carried out as part of an agreement among central banks.

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