BCR Sold 165 Kilograms Of Gold In January To May

05.26.2011 By Florentina Dragu

Romania’s top lender BCR has sold 165 kilograms of physical gold in January to May, above the amount sold in the whole of 2010, retail treasury chief Razvan Furtuna said Thursday.

He said physical gold transactions amounted to EUR5.5 million in the first five months.

In 2010, BCR sold 140 kilograms of physical gold.

Total sales of gold certificates and derivatives, including physical gold transactions, reached EUR40 million in January to May this year.

"We sell an average 5 kilograms of physical gold per deal. There is also demand for smaller quantities, particularly from collectors," Furtuna said.

The BCR official estimates full-year sales of physical gold will increase by 300% to 400%.