Sales of around 2,000 tonnes of central banks’ gold over a period of five years would translate into annual sales of about 400 tonnes. The Bundesbank envisages a quota of about 120 tonnes a year, which is equivalent to 4% of the total stock. The gold reserves have been accumulated from external economic activities over a prolonged period.
Hence, it is appropriate to manage this asset in a manner which safeguards its underlying value. Future generations should also be able to derive benefit from this asset. I will soon be taking up talks with the Federal Government and the parliamentary parties on the specifics of how to manage this asset. 1.