FYI | Apr 07 2006
The European Central Bank, probably better known by its abbreviation ECB, has announced in its weekly statement that three Eurosystem central banks sold gold accounting for EUR205m during the week to 31 March.
Total Eurosystem gold and gold receivables rose by EUR17.7bn with Barclays Capital pointing out this was largely a reflection of its quarterly revaluation adjustments.
But here comes the interesting part: on Barclays estimates, which take into account the aforementioned revaluation, European central banks have now sold around 213.7 tonnes of gold in the second year of the European central bank gold agreement. That so-called ECBGA 2004 started on 27th September 2005.