Canada gold sale said part of established program

Canada's sale of 20,000 ounces of gold in Feb 2001 was made as part of an established program to sell all of the precious metal held by the central bank, a finance ministry official said on Mar 5, 2001.

"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 mill

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