Official gold sales may rise - ex BIS FX head

A renewal of the Central Bank Gold agreement - which runs out in September 2004 - could raise the amount sold by 20%, according to the former head of foreign exchange and gold at the Bank for International Settlements.

Since 1999, Giacomo Panizzutti, speaking in Dubai on the 6th december, had been in charge of the secretariat responsible for supervising the five-year agreement which limits total sales by 15 European central banks to 2,000 tonnes, or 400 tonnes annually. It runs out in September

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