Portfolios transmuted

Gold

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Early last month, the European Central Bank (ECB) released its financial statement detailing the gold trading activity of the signatories of the Central Bank Gold Agreement (CBGA). The October 4 release, which covered trading during the final week of September, had been eagerly anticipated. In September, the final month of the second year of the five-year CBGA (an agreement between European central banks to limit their aggregate annual gold sales), rumours swept gold dealers' trading floors

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