Between 2005-2009, a second CBGA was enacted and the ceiling limit was lifted to 500 tons, but signatories had undersold the limit.

FORBES: European Central Banks Sell 1.1 Metric Tons Of Gold Under CBGA -- WGC

This is the third CBGA agreement, which is in its second year.

FORBES: European Central Banks Sell 1.1 Metric Tons Of Gold Under CBGA -- WGC

The CBGA started in 1999 and in the first five years, central banks were sellers of the full amount, set at 400 tons at the time.

FORBES: European Central Banks Sell 1.1 Metric Tons Of Gold Under CBGA -- WGC