El Salvador central bank sells 80% of its gold reserves
Central bank sold 5.4 tonnes of gold in March
The Central Reserve Bank of El Salvador sold around 80% of its gold reserves in March, as "part of a strategy to reduce the volatility of the assets" it holds.
The central bank sold 5.4 tonnes of gold last month, which would fetch $206 million at today's London am fix, reducing its holdings to around 1.4 tonnes.
In December, the central bank held $265 million worth of gold in its reserves, according to a document it published last week, which comprised just 10% of the total at the time. What is
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