ASX-listed Citigold Corporation has forward sold 100 00 oz of gold to GLD International, with the gold to be supplied within the next five years, subject to terms and conditions.
Citigold said on Friday that to incentivize GLD to pay for the gold at the earliest opportunity, the buy price will be at either 80% of the gold spot buy price at the time, or in limited circumstances, and at Citigold’s discretion, at 70% of the spot gold price.
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