GOLD central Bank Selling, page-3

  1. 506 Posts.
    actually its the Washington agreement

    the Swiss are the primary sellers at the moment

    i saw a recent it is

    Gold sold under Washington deal at 60% of total

    Marking the third anniversary of the Washington Agreement on Gold (WAG), the World Gold Council (WGC) reports that total sales under the agreement so far (from October 1999 to September 2002) amounted to 60% of the 2000 t scheduled for its five-year term. This figure translates into 1 197 t sold, with Switzerland having sold 603 tonnes, the UK 345 tonnes, Netherlands 136 tonnes, Austria 90 tonnes and Germany 23 tonnes. Considering that Germany's gold sales resulted solely from the demand for gold for the minting of commemorative coins, its reported sale of 23 tonnes seems high, yet the WGC says it reflects the strong demand for the special D-mark coins as the national currency was replaced by the euro.

    Swiss gold sales under WAG reflect 283 tonnes sold in the third year, 200 tonnes in the second and 120 in the first year. The total of 603 tonnes sold raised just over $6,1-billion. The Swiss National Bank announced plans to sell a further 283 tonnes in the fourth year of the agreement.

    This plan would leave the Netherlands, the only other major seller with gold to dispose under WAG, with a possible 117 tonnes to sell in year four. It is predicted that the remaining 803 tonnes of gold, under the agreement, will be sold by Switzerland and the Netherlands, with 639 tonnes and 164 tonnes respectively, between October 2002 and September 2004.
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