(Bloomberg) -- Gold in New York pared earlier gains
on speculation that central banks will increase bullion sales.
Silver rose.
European central banks will probably sell all 500 metric
tons of gold allowed under an agreement that goes through Sept.
26, UBS AG said in a report today. UBS previously forecast sales
of 400 tons. Gold gained 1.5 percent on June 1, partly because
the European Central Bank, one of the signatories of the accord,
said it won't sell more gold until September.
Read more at Bloomberg Commodities News
on speculation that central banks will increase bullion sales.
Silver rose.
European central banks will probably sell all 500 metric
tons of gold allowed under an agreement that goes through Sept.
26, UBS AG said in a report today. UBS previously forecast sales
of 400 tons. Gold gained 1.5 percent on June 1, partly because
the European Central Bank, one of the signatories of the accord,
said it won't sell more gold until September.
Read more at Bloomberg Commodities News
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