31.   While Germany long has opposed selling its reserves and Waigel denied the Bundesbank would sell any gold, concern persists that such sales are possible.

32.   While Germany said it had no plans to sell reserves, there was speculation the lending could be a prelude to a sale.

33.   But Energy Secretary William Richardson said there were no plans to sell the reserve.

34.   In recent years, the government has set a band for daily fluctuations and buys and sells its reserves to keep it within that corridor.

35.   Rubin said only by selling gold reserves or holding up tax refunds could he meet looming debt interest payments.