Central bank net gold sales fell 80% in 2009


A combination of easing of sales from central banks in "old Europe" and India's record-breaking purchase of 200 tonnes from the IMF led to a dramatic decline in net sales of gold by the official sector from 2009 to 2008.

Overall net sales from the central banks were 40 tonnes compared to 232 tonnes in 2008, said GFMS, a research body in their annual report published on Wednesday. This decline was "in the main" due to "far lower sales by the European central banks."

Philip Klapwijk, the executive

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