Germany considers offloading 600 tons of gold

- Central Banking staff
- 12 Mar 2004

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Ernst Welteke told a parliamentary committee on Wednesday 10 March that the Bundesbank wanted to sell 600 tons of gold over the next five years from its stock of 3,400 tons. But politicians said the funds should be used to cut debt, something the Bundesbank is against.

The central bank would like to sell 600 tons of gold from its reserves over the next five years, according to Welteke, in a plan that could make some euro 5 billion (US$6.21 billion) available for research and development projects

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