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To: pallmer who wrote (9368)12/9/2003 9:23:10 AM
From: pallmer  Read Replies (1) of 29600
 
9 Dec 2003 09:18 ET DJ ECB Gold Reserves Down EUR64M Week Ended Dec 5



LONDON (Dow Jones)--The Eurosystem's net reserves in gold and gold receivables decreased by EUR64 million to EUR130.374 billion in the week ended Dec. 5, the European Central Bank said Tuesday.

The ECB attributed the change in gold reserves to the sale of six metric tons by a national central bank of the Eurosystem, consistent with the Central Bank Gold Agreement of September 1999. In that agreement, which included the central banks of the Eurosystem, the U.K., Sweden and Switzerland, the central banks agreed to limit gold sales to a total of 400 tons a year over five years.

Meanwhile, the Eurosystem's foreign-currency reserves increased by EUR100 million during the week to EUR190.0 billion as a result of customer and portfolio transactions.

The ECB also said cash in circulation increased by EUR11 billion to EUR416.2 billion.

Liabilities to the general government rose by EUR600 million to EUR64.8 billion.

The Eurosystem consists of the Frankfurt-based ECB and the 12 euro-zone national central banks.

ECB Web site: ecb

-By Nina Koeppen, Dow Jones Newswires; +4420 7842-9496; nina.koeppen@dowjones.com

(END) Dow Jones Newswires

December 09, 2003 09:18 ET (14:18 GMT)
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