Bank of Portugal sold 15 tonnes of gold recently

The Bank of Portugal said Tuesday 4 July it has sold 15 tonnes of gold from its reserves in the last few months.

The central bank said the sales were intended to diversify its external reserves, with the proceeds to be kept in a special reserve at the bank.

Last December, the bank sold 10 tonnes of gold.

The sales were carried out as part of the European Central Bank's agreement on gold sales which limits gold sales to 500 tonnes annually up to 2009.

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