Press Release: IMF Announces Sale of 10 Metric Tons of Gold to the Central Bank of Sri Lanka

IMF News, November 25, 2009

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Canonical URL: Press Release: IMF Announces Sale of 10 Metric Tons of Gold to the Central Bank of Sri Lanka

Previously sold: 202 metric tons to the Reserve Bank of India and the Bank of Mauritius (see Press Release No. 09/381 and Press Release No. 09/413).
Total approved for sale by the Executive Board: 403.3 metric tons (see Press Release No. 09/310).

Sales conducted in accordance with the guiding principle of avoiding disruption of the gold market.
Initial period modality: the Fund is standing ready to sell gold directly to central banks and other official holders interested in such sales.
Subsequent modality: any amounts remaining from the 403.3 tons would be sold on-market in a phased manner over time.
Approach for phased on-market sales: following the approach adopted by central banks participating in the Central Bank Gold Agreement.
Market communication: the Fund will inform markets before any on-market sales commence.
Reporting: the Fund will report regularly to the public on progress with the gold sales.

Press Release numbers cited: No. 09/431, No. 09/310, No. 09/381, No. 09/413.
Dates cited: November 23, 2009 (market prices basis), November 25, 2009 (announcement date).

Source: Press Release No. 09/431, November 25, 2009, International Monetary Fund.