Eurpoean Central Banks Make Gold Agreement
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European central banks made a fourth gold agreement, without a cap on sales for the first time.
The European Central Bank and 20 others said in announcing the fourth agreement that they currently don’t have any plans to dispose of “significant” amounts of gold, without giving a limit. Banks agreed to cap sales at 400 metric tons of the metal a year through September 2014, and no more than 500 tons a year in the pact that expired in September 2009.