Swiss SNB sold 8.6 tons gold in 10 days to 30 Nov

SWITZERLAND - The Swiss National Bank said Monday that its gold reserves fell by CHF130 million to CHF33.55 billion in the 10-day reporting period to 30 November 2001.

Based on the SNB's quarterly valuation of gold at CHF15,086 a kilogram, the central bank has sold around 8.597 metric tons in the latest 10 day period. That brings the total gold sales to around 376.6 tons since the beginning of the SNB's program in May 2000 to sell 1,300 tons of surplus reserves.

The bank's gold operations are i