Gold
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..
Zimbabwe's central bank raises gold sale price
Zimbabwe's central bank has raised the price paid to small scale gold producers by 114 percent following the abolition of the gold floor price support scheme, the Financial Gazette reports.
China to open gold trade to individuals
The Shanghai Gold Exchange, China's only gold exchange, may expand to allow individual investors to buy or sell gold later this year, reports the China Daily.
Swiss National Bank reports fall in income
Swiss National Bank Financial Statements and Annual Report 2002. The SNB reported a fall in aggregate income during 2002; however this was partially offset from receipts of Sfr 1.53 billion from gold transactions and the revaluation of gold holdings.
Russian gold reserves may rise one-third in 2003
Russian central bank first deputy governor Oleg Vyugin said on Monday that the new oil price forecast could see the central bank increase its reserves by US$14bn during the year, according to a report by ITAR-TASS news agency.
SDR to replace gold franc at the BIS
The Bank for International Settlements (BIS) on Monday announced that the Special Drawing Right (SDR) would replace the gold franc as the Bank's unit of account as from 1 April 2003.