The ECB’s gold sales

On 30 June, the European Central Bank (ECB) has completed gold sales amounting to 30 tonnes of gold. These sales are in full conformity with the Central Banks’ Gold Agreement, dated 27 September 2004, of which the ECB is a signatory. Together with the gold sales of 42 tons, which were completed on 30 November 2007, the ECB has thus sold 72 tons of gold in the fourth year of the agreement, which started on 27 September 2007 and ends on 26 September 2008. It is not the ECB’s intention to sell more gold in the current year of the agreement.