IMF completes gold sale programme – Javier Blas, Financial Times
“The International Monetary Fund has said that it has completed its large programme of gold sales, removing one of the few bearish elements restraining the bullion market…In a statement released on Tuesday night, the Washington-based IMF said that it had already sold the expected 403.3 tonnes of gold – equal to around 10 per cent of annual demand for bullion – partly through direct sales to central banks, including one large disposal to the central bank of India, and partly on the open market…The conclusion also means that in 2011, barring a surprise sale by any European central banks, governments and other official institutions will be net buyers of gold for the second year in a row.”
