Central-bank gold sales plunge

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Central bank gold sales fell by 73% in the six months to June compared to the first half of 2008, a report out Monday showed.

The report by GFMS, a precious metals consultancy, for Société Générale said that the drop was mainly due to a fall in sales from signatories of the Central Bank Gold Agreement and small purchases from countries outside the agreement.

The agreement, which lasts up until 26 September, accounts for 40% of official-sector gold holdings, according to International Monetary Fu

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