Imf Sell 2 Ton Gold
Gold Investing July 1st, 2009
International Monetary Fund (IMF), announced Monday it had sold two tons of gold to the central bank of Mauritius worth nearly 72 million dollars. Sales made of gold prices soared, local time Monday, to reach the highest level of all time at 1,136.72 U.S. dollars per ounce.
Sales to Mauritius “on the basis of prevailing market price on November 11, 2009 with the value equivalent to 71.7 billion dollars,” the IMF said in a statement. This second sale by the IMF since September when the executive board to authorize the sale of 403.3 tons of gold to improve the financial conditions amid the global economic crisis.
On 2 November, the IMF sell 200 tonnes of gold into India’s central bank worth 6.7 billion dollars. The IMF said it would sell gold directly to the central banks and other official holders for an initial period prior to selling a certain amount to the open market “gradually.” The IMF is based in Washington that currently control more than 3,000 tons of gold, the official holders of precious metals in the world’s third largest after the United States and Germany.
