ECB: central bank gold agreement no longer needed | Metals Mine

  • ECB: central bank gold agreement no longer needed

Added at 8:09am

  • Gold agreement no longer necessary due to changes in market conditions and in central bank activities

    From snb.ch Story is in PDF Format

    The Swiss National Bank and the 21 other central banks that are signatories to the Central Bank Gold Agreement (CBGA) have decided not to renew the agreement upon its expiry in September 2019. The first CBGA was signed in 1999 to coordinate gold sales planned by the various central banks. Its introduction helped to create balanced conditions in the gold market by providing transparency regarding the intentions of the signatories. The CBGA has been renewed three times (2004, 2009 and 2014), with its terms becoming gradually less stringent. Since 1999, the global gold market has developed considerably in terms of ... (full story)

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bulltrap
Jul 26, 2019 9:39am
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Interesting.. I’m always skeptical when an organization signals one thing with what they are doing and another with what they are saying
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