Bundesbank may sell some of its gold

The Bundesbank may sell some of its US$35 billion of gold to buy more profitable assets, executive board member Hans-Helmut Kotz said. In April we reported that Bundesbank President Ernst Welteke said that the international agreement limiting gold sales by central banks was worth extending once it expired at the end of 2004 and that any German sales would be part of that agreement.

The latest sales suggested by Kotz probably wouldn't happen until the Washington agreement between 14 European ba