Wednesday, June 2, 2010

IMF Sells 14.4 Tonnes Of Gold In April

According to a report from Reuters Africa, the IMF has confirmed it sold 14.4 tonnes of the metal in the month of April.
The IMF has now sold 38.5 tonnes of the total 191.3 tonnes of gold it announced it would sell on the open market earlier this year, the spokesperson said. The sale brings the fund's total gold holdings to 2,966.8 tonnes.
So, the institution is about a fifth of the way through its allocation. The figures for May will be interesting because of the record made a few weeks ago. Certainly, April sales didn't hurt gold's run-up all that much.

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