Austria's Liebscher gold agreement to be renewed

Austria's central bank head was quoted on Monday 19 January as saying that European central banks are set to renew the so-called Washington Agreement on gold which limits sales.

The agreement, brokered by 15 central banks meeting in the US capital in September 1999, will be renewed well ahead of its scheduled five-year expiry date, Klaus Liebscher told the Financial Times.

A new agreement should be ready in the next few months, and would most likely raise the maximum amount of gold any central