Mostly: Classical

[amarksp]

Central Bank Gold Sales

http://www.investorshub.com/boards/read_msg.asp?message_id=8327291

Actual tonnes sold = 191.80
Agreement tonnes = 240.38

24% behind schedule...
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The Bundesbank, the German central bank, on Tuesday rebuffed the Berlin government by announcing that it had decided against substantial gold sales before at least September.

The decision, although widely expected, marked a fresh assertion of independence by the bank, which has been under pressure to sell by the government of Angela Merkel, chancellor.

"Gold is an essential part of the currency reserves of the Bundesbank," said Axel Weber, Bundesbank president. "Decisions on the manner and size of reserves are taken autonomously."

Mr Weber said that the decision related to sales in the current year of its option of 600 tonnes permitted by the Central Bank Gold Agreement, which expires in September 2009.

It excluded, however, the sale of up to eight tonnes for the
manufacture of gold coins by the government. Mr Weber said no decisions had been taken about possible gold sales in future years.