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Banro Gold: Proven and Probable Reserves Increase to 4.52 Million Ounces at Twangiza

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AGORACOM Wire - Wednesday February 15th, 2012

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Message: Third Gold Sales Pact to Plant Flag of Support

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Third Gold Sales Pact to Plant Flag of Support

posted on Apr 30, 09 09:36AM

Dear Shareholder,

The following article discusses the possible renewal of the Central Bank Gold Sales Agreements (CBGA) amongst European Central Banks. Please click on the highlighted Link below to read the entire article and its impact on the Bullion Market.

Sincerely,

Agoracom IR

ANALYSIS-Third gold sales pact to plant flag of support

* Third Central Bank Gold Agreement mooted by ECB

* IMF gold sales of 403.3 tonnes could be made under pact

* China turns buyer, lending support to the market

By Veronica Brown and Jan Harvey

LONDON, April 30 (Reuters) - Gold bugs are tantalised by the prospect of a third European central bank pact to limit sales of the precious metal, with the International Monetary Fund seen figuring heavily in a move that should underpin the investment case for bullion.

European central banks have agreed to regulate gold sales under the terms of two successive Central Bank Gold Sales Agreements (CBGA) starting in 1999, which have been key in supporting an eight-year bull market rally that saw prices top the $1,000 an ounce mark.

ANALYSIS-Third gold sales pact to plant flag of support

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