Bundesbank gold sale rule change dropped

The German government and the Bundesbank have agreed to end a long-running squabble over the use of Germany's gold reserves, the finance ministry announced.

Finance Ministry Peer Steinbrueck has dropped proposals to change the existing law regarding the sale of the Bundesbank's gold reserves, the ministry said in a statement, according to AFX.

"The existing legal regulation which stipulates that the Bundesbank will transfer its profits directly to the government will remain in place," the minis