recent Fund gold sales. The proposed distribution is part of a strategy endorsed by the Board in July 2009 involving the use … of resources linked to gold sale profits to facilitate members' contributions towards Poverty Reduction and Growth Trust … (in end-2008 NPV terms) was expected to be generated from resources linked to profits from gold sales …

Fund's limited gold sale. They noted their expectation that at least SDR 4.4 billion of the profits would be placed in an … (LICs), including the distribution to the Fund's membership of up to SDR 0.7 billion from the profits linked to gold sales …

-regime demand for gold. Derived multiple equilibria suggest that the monetary authority could possibly have a wide percentage range … of gold demand. Demanding a higher percentage of gold is more appropriate if the central bank prefers to accumulate … higher volatility of monthly returns on gold …