European central bank gold sales lowest since 1999


The second year of the third Central Bank Gold Agreement ended on Monday and data showed European central bank signatories to the agreement sold a gross 1.1 tonnes of gold during the year, the lowest annual sales since the five-year agreements began in September 1999.

The current agreement permits signatories to sell 400 tonnes of gold collectively a year, until it expires in 2014.

European signatories showed a similar reluctance to sell gold last year, selling just 7.1 tonnes of the permitted 4

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