ECB gold reserves - EUR55M

GERMANY - The Eurosystem's net reserves in gold and gold receivables declined EUR55 million to EUR126.8 billion in the week ended 22 March, the European Central Bank said Tuesday.

The ECB said the decline in gold reserves corresponded to a sale of 5.1 metric tons by a Eurosystem national central bank for the purpose of issuing commemorative gold coins.

The disposal was consistent with the Central Bank Gold Agreement of September 1999, the ECB said. In that agreement, which included the central

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