Report says Germany may create gold sale fund

Germany may create a special fund for the proceeds of Bundesbank gold sales in a move which could help ease central bank opposition to the sale of part of its huge reserves, according to a draft law quoted by Reuters on Thursday 2 February.

According to the newswire, the draft - which also proposes big cuts to Bundesbank staff pay and benefits - says the proceeds of gold sales should accrue to a "special reserve".

The draft didn't set out who would manage the fund, or what would happen to any

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