Gold
Switzerland's last tranche of gold sales
In spring 2000, the Swiss National Bank began selling that part of the gold reserves no longer required for monetary policy purposes. The sales - which will total 1,300 tonnes - have to date been effected according to the agreement on gold sales…
No gold sale plan, says Bank of Italy
In a statement released on Monday 13 September, the Bank of Italy said it had no plans to sell its gold reserves.
UK's Brown urges gold revaluation for debt relief
Gordon Brown, the UK Chancellor of the Exchequer, on Friday 9 July called on the International Monetary Fund to revalue its gold reserves as a method of releasing more money for debt relief for the world's poorest countries.
Sarkozy pledges to cut in deficit, sell reserves
French Finance Minister Nicolas Sarkozy has promised to bring the country's deficit under control and also proposed to sell some of the gold held at the Bank of France.
Noyer says France open to gold sale
Bank of France governor Christian Noyer said in an interview published on Wednesday 14 April that he was open to selling some of France's gold but that the receipts would not go directly to the state.
Euro central banks reach new gold sales agreement
European central banks said on Monday 8 March that they had reached a new agreement that increases the limits on their annual gold sales to 500 tons annually over the next five years.
Netherlands plans to offload $866m of gold
The Dutch central bank plans to sell 65 tons of gold valued at $866 million when the 15-country gold sales agreement expires in September, spokesperson Tobias Oudejans said on Tuesday. 17 February
Schroeder suggests gold reserves used to fund R&D
German Chancellor Gerhard Schroeder was quoted in an interview on Thursday 5 February as suggesting that Bundesbank gold reserves could be used to finance research and development projects.
Tanigaki says Japan could increase gold holdings
Japan's Finance Minister Sadakazu Tanigaki said in response to a parliamentary question that Japan may consider increasing its gold reserves to bring them more into line with levels elsewhere.
Venezuela's central bank under pressure
This article looks at the position of the central bank of Venezuela (BCV) following calls from President Hugo Chavez to hand over $1 billion from its reserves. Chavez has called it 'absurd' and 'crazy' for the reserves just to sit in the bank, and…
Vietnam central bank plans gold purchase
Vietnam's central bank has given the go-ahead for the country to import up to 10 tonnes of extra gold in the first quarter of 2004.
Gold investors hope for new central bank accord
Since 1999 the gold price has soared by more than 39 per cent even as European central banks have sold more than 1 594 tons of bullion from their reserves. But what those central banks do next could determine where gold goes from here, reports Bloomberg.
Official gold sales may rise - ex BIS FX head
A renewal of the Central Bank Gold agreement - which runs out in September 2004 - could raise the amount sold by 20%, according to the former head of foreign exchange and gold at the Bank for International Settlements.
Russia's gold reserves on hold
Central Bank of Russia deputy governor Oleg Vyugin was quoted as saying Russia has no plans to increase gold reserves at the moment. He said current conditions were not good for buying gold which is "substantially expensive" and lacks liquidity, Reuters…
Buba eyes 400-600 tonne gold sale in new pact
A report says that the Bundesbank is considering selling between 400 and 600 tonnes of gold from late 2004 to 2009, according to Reuters. Bundesbank President Ernst Welteke declined to comment on details of any deal ahead of discussions in the spring…
Swiss Nat Bank to sell 284 tonnes gold by Sep 2004
The Swiss National Bank said on Friday 26 September that it plans to sell 284 tonnes of gold from excess reserves by the end of September 2004 and aims to offload another 130 tonnes in 2005, according to a report by Reuters.
Gold sales not on official IMF agenda-Welteke
Ernst Welteke said on Wednesday 17 September that renewal of the Washington Accord on gold sales would not be on the agenda at the Dubai IMF meeting scheduled for this weekend, according to Reuters. Welteke did repeat his regularly stated position,…
Afghanistan displays forgotten gold reserves
Afghan president Hamid Karzai accompanied central bank governor Anwar ul-Haq Ahady and other dignitaries on Friday 29 August as they witnessed the opening of a vault under Afghanistan's presidential palace containing the countries gold reserves,…
Gold prices higher on central bank rumours
Gold prices rose on Wednesday, the Financial Times reported, on rumours that the terms of the Washington Accord of 1999, where Europe's central banks agreed to restrict sales of gold to 400 tonnes a year, were to be renewed.
Greek central bank sells 20 tons of gold
The central bank of Greece has sold 20 tonnes of gold reserves. The Bank will invest the proceeds in a bonds portfolio including Greek government and other top-grade bank paper, its deputy governor Nikos Paleokrassas told Agence France-Presse.
Will Asia play the gold card?
If Asian countries decide to sell their dollars and buy gold, the impact on the global financial system could be as dramatic as the collapse of the Bretton Woods fixed exchange rate system in 1971.
Belgian central bank shares drop on court ruling
A commercial court in Belgium has dismissed as unfounded a law suit calling for an extraordinary meeting of shareholders of the Belgian central bank, according to Reuters. The meeting was to ask for the dissolution of the Bank because a transfer of the…
Bank of England Quarterly Bulletin, Summer 2003
The Bank of England released its Quarterly Bulletin, Summer 2003, on 20 June. The Bulletin includes articles entitled 'What caused the rise in the UK terms of trade?' and 'An analysis of the UK gold auctions 1999-2002'.
Russian gold reserves reach new record high
Gold reserves in Russia reached a new record high this week at 59.9bn dollars, according to a report by the Interfax news agency..