The Central Bank of Cyprus denied that it will sell 400 million euros ($525 million) worth of its gold reserves as part of the conditions to Europe's bailout of the island state.Aliki Stylianou, a spokesperson at the central bank told CNBC on Thursday that there was "no such thing being discussed."
"The decision to sell the gold is a decision to be taken by the board of the Central Bank of Cyprus (CBC). No such thing has been discussed or is in the process of being discussed. There are so many rumors flying about and this is just one of them," she said.
(Read More: El-Erian: Unfortunately, the Cyprus Crisis Is Not Yet Over )
Stylianou's comments contradict the contents of a draft document from the European Commission assessing the financing needs of Cyprus, published by the Financial Times on April 9.
Propaganda is the new norm folks, trade carefully.
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