The Central Bank joins the gold trade

The Central Bank reported yesterday that Ecuador will join the gold market. The institution will purchase the mineral to artisanal and small extractors, something that will fuel the sector and will further increase the gold reserves of the country abroad, accordind to a communiqué of the BCE (for its Spanish acronym).

The initiative will be implemented gradually and will strengthen the position of the International Reserve of the BCE. In addition, “it aims to create fair prices and times, sustainable trade relations and the formalization of the gold market in the country,” the indicates the institution.

Source: http://expreso.ec/economia/el-banco-central-se-une-al-comercio-de-oro-ND342971