Central Banking

ECB net gold reserves decline in Oct 12 week

GERMANY - The Eurosystem's net reserves in gold and gold receivables declined by EUR1 million to EUR128.2 billion in the week ended 12 October, the European Central Bank said Tuesday.

The ECB attributed the change in gold reserves to a "technical adjustment" by one euro-zone national central bank. It didn't elaborate.

Meanwhile, the Eurosystem's foreign currency reserves increased by EUR1 million during the week to EUR258.7 billion as a result of customer and portfolio transactions.

The ECB also