9
July
ECB-Gold reserves down 8.5 bln euros after revaluation
9 July 2009 Forbes
Gold and gold receivables held by euro zone central banks fell by 8.5 billion euros to 232.128 billion euros in the week ending July 3 after a quarterly revaluation, the European Central Bank said on Wednesday.
Net foreign exchange reserves in the Eurosystem of central banks fell by 10.5 billion euros to 206.2 billion euros, the ECB said in its weekly consolidated financial statement.
Gold holdings fell mainly due to the quarterly revaluation. One euro zone central bank also sold gold for 5 million euros, consistent with the 2004 Central Bank Gold Agreement, the ECB said.
