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Monday, 13th September 2004 (4182 views)

The governor of the Dutch central bank has revealed that it plans to sell 100 tonnes of gold under a new five-year gold sale agreement.<BR/><BR/>According to Reuters, the agreement comes into effect in September and will also see the bank sell 50 tonnes of the precious metal, which is left from the last agreement.<BR/><BR/>Governor Nout Wellink said: "There is an annual tonnage for all countries in the gold agreement, and we talk about it together how to sell it, so there is some flexibility there."<BR/><BR/>In addition Italy's central bank is also set to reveal their position soon, having not sold gold from its reserves since the fascist period.<BR/><BR/>The sale of gold by European central banks was first announced in March, whereby they agreed to sell 500 metric tonnes each year over the next five years.<img src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=3417352"/>

 

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