Gold prices higher on central bank rumours

Gold prices rose on Wednesday on rumours that the terms of the Washington Accord of 1999, where Europe's central banks agreed to restrict sales of gold to 400 tonnes a year, were to be renewed.

Source: Financial Times

Gold shot higher on Wednesday as end-of-month options expired at about midday in Europe and on rumours of changes to restrictions of central bank selling of the commodity.

Spot gold surged $6.40 to $370.40 as fund buyers, pushing for a strike price of about $370, were encouraged by

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account