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Analysts bemused by El Salvador's gold sale

Thursday, April 30, 2015

Analysts are not sure what to make of El Salvador’s recent move that saw its central bank sell about 80 percent percent of its gold reserves in March, according to figures published by the International Monetary Fund.

An official from the bank told Reuters last week the sale aimed to help diversify its risk and take advantage of appreciating gold prices. However, analysts such as those at Commerzbank, don’t seem to buy that explanation.

Source: Mining