Central Bank Gold Sales Still Moving at Anemic Pace

Source:

In the past four weeks, central banks have reported sales of just 10.9 tonnes. So far in the fourth agreement year, signatories have posted sales of just 113.3 tonnes an average of 6 tonnes per week compared to 6.8 tonnes last year.

In the week ending 25 January 2008, the European Central Bank (ECB) reports that one Eurosystem signatory within the Central Bank Gold Agreement of 27 September 2004 decreased gold holdings in the amount of EUR 51 million ($34.57 million) reflecting sales of 2.6 tonnes.

In the past four weeks, central banks have reported sales of just 10.9 tonnes. So far in the fourth agreement year, signatories have posted sales of just 113.3 tonnes an average of 6 tonnes per week compared to 6.8 tonnes last year.

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