Thursday, November 26, 2009

IMF Sells Gold To Sri Lanka

The International Monetary Fund on Wednesday said it has sold 10 metric tonnes of gold to the Central Bank of Sri Lanka. The lender said the sale was conducted on the basis of the market prices prevailing on November 23, with the sale proceeds equaling US$375 million
The sale is part of the total sales of 403.3 metric tonnes of gold approved by the IMF Executive Board in September. Sri Lanka is the third purchaser of gold from the IMF, after the central banks of India and Mauritius. Thus far, the lender has sold a total of 202 metric tons.

Gold surged to a record high again on speculation of more central bank buying. The advance was also underpinned by a declining U.S. dollar.

© RTT News

Related Links:
Sri Lanka Buys 10 Metric Tons of Gold - The Wall Street Journal

INTERVIEW-Sri Lanka says will come close to IMF deficit target - Reuters
After India, Sri Lanka buys 10 tonnes of IMF gold - Commodity Online

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