International Monetary Fund to Sell Another 191 Tons of Gold

Written By Michael Kitchen
February 18th, 2010

The International Monetary Fund said Wednesday that it plans to sell 191.3 tons of gold, likely on the open market, pushing spot prices and gold-miner shares lower. The value of the planned sales would be worth about $6.19 billion at current prices, according to CNBC. The sales would follow the unloading of 212 tons of IMF gold to central banks, part of a gold-sale program approved by the IMF's executive board in September of last year.