22
December
Gold Climbs After IMF Says Reserve Sales Conclude; Silver Gains
22 December 2010 Bloomberg.com
Gold gained after the International Monetary Fund said that it had finished a program of sales of the metal to boost its finances, removing a source of supply from the global market. Platinum prices also rose.
Immediate-delivery gold advanced as much as 0.4 percent to $1,391.02 an ounce and traded at $1,389.25 at 2:53 p.m. in Singapore. The IMF concluded sales of about 403.3 metric tons, or 13 percent of its reserves, to central banks and other market participants, it said yesterday in a statement, without disclosing the total amount raised.
