IMF to sell gold in the market


The International Monetary Fund (IMF) on Wednesday announced plans to offer the remainder of its saleable gold on the open market.

The sale of the 191.3 tonnes of gold will be conducted in a phased manner over time, the Fund said. It added that it would follow the approach of the Central Bank Gold Agreement, of which it is a de-facto signatory. The agreement limits signatories to sales of 400 tonnes of gold per year for five years.

"The top priority is to avoid disruption to the gold market," sa

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