Canada gold sale said part of established program
"Since 1980, Canada's policy has been to sell gold into the market," said Jean-Michel Catta, a spokesman for the finance ministry. "We're doing it in a very gradual and controlled manner, so as not to be destructive to the market."
On Feb. 28, the Bank of Canada's gold holdings stood at 1.2 million
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More on Reserves
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Second Ecuador candidate promises to spend reserves
Both candidates now plan to raid central bank funds, despite 2021 law
Fewer than half of reserve managers perform liquidity stress tests
Approach tends to be more common among African and American institutions
FX reserves commonly invested in US Treasuries, bank deposits
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External managers hired to set up new asset classes and train staff
Central banks also look to external managers to boost returns and access market intelligence
Reserve managers cut duration as top inflation-proofing strategy
No respondent reports expansion into non-conventional assets
Boards responsible for benchmark approval at most central banks
Over half of lower-middle income respondents favour investment committee over other methods
Central banks’ average import coverage ratio falls further
Upper-middle income institutions tend to have a higher ratio