Basic Content Bank Of Spain Sells 28 Tons Of Gold In May From Reserves -2-
06-05-2007 04:42:00 AM
The Bank of Spain, along with 15 other European central banks, is a signatory to the European Central Bank Gold Sales Agreement, which entitles them to collectively sell 500 tons of gold a year.
The sales are closely watched by gold market participants and recent heavy sales have been capping upside momentum in gold prices since March.