ECB Says Estonia’s Central Bank Joins Gold Agreement

Estonia signed an agreement that limits how much gold European central banks can sell until 2014, according to the European Central Bank.

The five-year agreement announced August 2009 that was signed by the ECB and 18 other countries will remain unchanged over the period of the agreement, the ECB said in a statement on its website today. That agreement started Sept. 27, 2009 and limited gold sales to 400 tons a year for five years.

Estonia owned 0.2 metric ton of gold as of last month, according to the World Gold Council. As of Nov. 30, the gold sales under the agreement for 2010-11 total 0.9 ton by an unidentified country in the eurozone, according to the World Gold Council.

To contact the reporter on this story: Jana Randow in Frankfurt at jrandow@bloomberg.net.

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.