European Central Banks May Eliminate Restriction on Gold Sales

MINING.com reported yesterday that according to the German edition of The Wall Street Journal, in September, European central banks may eliminate a restriction on the sale of their gold holdings. It has been in place for 15 years.

As quoted in the market news:

‘The negotiations are still ongoing,’ Carl-Ludwig Thiele said in an interview with German edition The Wall Street Journal yesterday, concerning another extension of the 1999 agreement which cap sales of Europe’s 17 central banks at 400 tonnes over a five-year period.

‘No one can see into the future, that’s why it is currently under discussion whether it should be continued,’ Thiele said, adding that Germany has not intention to sell any of its reserves, over and above the four to five tonnes used to mint gold coins annually.

Click here to read the full MINING.com report.