Also, nur die Ruhe weg. Das Zeug kommt eh nicht auf den Markt!
...The key statements have recently come from IMF Finance Department Director Michael Kuhn who said:
The gold sales will take some time. First, the Executive Board has just endorsed the proposal to amend the Articles of Agreement to expand the IMF's investment authority. This amendment needs to be approved by the Board of Governors, and then make its way through national legislatures. It looks as though a year is the shortest time for entry into force of an amendment of our Articles.
The gold sales will be phased to avoid the risk of disrupting markets. So we won't see the full effect immediately, but we estimate that 3 or 4 years from now, we should be back in the black.
As for the modalities of the gold sales, we will either sell to a central bank that is willing to buy gold, or sell in conjunction with the already established official gold sales program—the Central Bank Gold Agreement.
We will coordinate with other official holders of gold to sell in such a way that we do not increase the overall amount of official gold sales into the market.
Naturally, the sales will be conducted within a strong framework for governance and controls, and with a high level of transparency. We are the world's third largest holder of gold, and we are keenly aware of our responsibility not to disrupt the gold market.