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Cyprus to Offload 400M Gold

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Cyprus to Offload 400M Gold
AIRED:
Cyprus is going for gold - and is digging into its reserves. The indebted country will offload around 10 of its 14 tonnes - raising 400 million euros to help finance its bailout. It will be the biggest sale of gold in the euro zone in four years. Gold prices fell 1.7 per cent on the news - the biggest one day drop in almost two months, partly driven by investor fears that other euro zone countries might now follow Cyprus' lead. Robert Cole is from Reuters Breaking Views.moreless

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