-->DJ ECB Gold Reserves Down EUR53M Week Ended Oct 31


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Tue Nov 04 09:20:13 2003 EST



LONDON (Dow Jones)--The Eurosystem's net reserves of gold and gold
receivables fell EUR53 million to EUR130.769 billion in the week ended Oct. 31,
the European Central Bank said Tuesday.

The ECB attributed the change in gold reserves to the sale of five 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 fell EUR200 million
during the week to EUR192 billion, as a result of customer and portfolio
transactions.

The ECB also said cash in circulation rose EUR2.9 billion to EUR398.4
billion.

Liabilities to the general government increased EUR1 billion to EUR49.4
billion.

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




<ul> ~ ECB Web site</ul>