European central banks renew gold agreement

FRANKFURT: A group of 21 European central banks says they have no plans to sell “significant” amounts of gold over the next five years.

In a joint statement, the central banks of the 18 eurozone nations, the European Central Bank and the central banks of Switzerland and Sweden said: “Gold remains an important element of global monetary reserves. The signatories will continue to coordinate their gold transactions so as to avoid market disturbances.