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Europe's central banks halt gold sales - Financial Times
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[quote:Anonymous Coward 880044:MV8xMjAzMzU1XzE5NTY4ODAyXzQyOEFGQzgx] http://www.cnbc.com/id/39376353 [i] The lack of heavy selling is important for gold prices [XAU=X 1287.95 -8.10 (-0.62%) ] both because a significant source of supply has been withdrawn from the market, and because it has given psychological support to the gold price. On Friday, bullion hit a record of $1,300 an ounce.[/i] [/quote]
Original Message
Europe’s central banks have all but halted sales of their gold reserves, ending a run of large disposals each year for more than a decade. The central banks of the eurozone plus Sweden and Switzerland are bound by the Central Bank Gold Agreement, which caps their collective sales.
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