I have recently aquired an 85 635CSi with power steering noise when cold I did all the recommended things replace filter, replace suction hose and replace fluid. None of these things helped. I finally got my wife to sit in the car and turn the wheels from post to post. I noticed on the top of the pump at the seam of the two pump body part a thin red line of fluid. When the turning stopped the fluid disapeared. I was sucking air into the pump through the seam in the pump body. I replaced the pump with a used one $40 and now it is as quite as it can be and steers even better.
I wanbt to thank eveyone who helped with suggestions to try to save money but in the end I had to spend a little, but I learned a lot also.