IMF board backs gold sales


The International Monetary Fund's (IMF) executive board on Friday backed plans to sell a little over 400 tonnes of gold.

The IMF said it will sell up to 403.3 metric tonnes in a manner which will "safeguard against disruption of the gold market."

Dominique Strauss-Kahn, the managing director of the Fund, said: "These sales will be conducted in a responsible and transparent manner that avoids disruption. Most importantly, the sales are strictly limited to 403.3 tons, which is one-eighth of the Fu

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