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Agreement Gold Price

This Agreement supersedes all other communications between the Parties. “Several central bankers involved had repeatedly said that they did not intend to sell anything of their gold, but they had said so as individuals – and no one had taken note of it. I think that is what Mr Duisenberg said when he said that they are making this statement to clarify their intentions. On 19 May 2014, the European Central Bank and 20 other European central banks announced the signing of the fourth central bank agreement on gold. The agreement, which will apply from 27 September 2014, has a duration of five years and the signatories have stated that they currently have no plans to sell significant quantities of gold. For more information, please click here. Silver trades in dollars and cents per ounce like gold. For example, if silver is traded at $10 per ounce, the “wholesale” contract has a value of $50,000 (5,000 ounces x $10 per ounce), while the Mini would be $10,000 (1,000 ounces x $10 per ounce). Investment Funds & ETFs: All investment fund and ETF information contained in this announcement, with the exception of the current price and price history, has been provided by Lipper, A Refinitiv Company, subject to the following provisions: Copyright © Refinitiv. All rights reserved. Any reproduction, republication or retransmission of lipper content, including by caching, framing or any other similar means, is expressly prohibited without the prior written consent of Lipper. Lipper is not responsible for errors or delays in the content or actions that are done with confidence.

“As part of the agreement, the European Central Bank (ECB), the 11 national central banks of the nations then participating in the new European currency, as well as Sweden, Switzerland and the United Kingdom, agreed that gold should remain an important component of the world`s monetary reserves and limit its sales to 400 tonnes (12.9 million ounces) per year over the five years from September 1999 to September 2004. A total of 2,000 tons (64.5 million onrs). [2] “The independence of the Central Bank is enshrined in law in many countries and central bankers tend to be independent thinkers. It is worth wondering why such a large group of them decided to join this very unusual agreement. At the same time, through our close contacts with central banks, the Council has learned that some of the largest holders have been concerned for some time about the impact of unfounded rumours on the price of gold – and thus on the value of their gold reserves – and on the use of official gold for speculative purposes. . . .

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