DAR ES SALAAM, Oct. 9 -- THE Bank of Tanzania sold 5.1 metric tonnes of gold from its reserves last week as prices rose, part of a strategy that allows the bank to trade bullion while building its holdings to strengthen international reserves and support the shilling.

The BoT Governor, Emmanuel Tutuba told reporters in Dar es Salaam yesterday that the bank held 35.4 tonnes of gold before the sale last week.

“We continue to buy and sell depending on when the price is favourable,” Tutuba said, noting that the central banks strategy was to continue buying and selling gold when prices were favourable.

“If the price is favourable, we sell on any given day. If the price falls, we do not sell.”

He said the central ban...