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ECB gold reserves hit € 352 billion

The European Central Bank on Tuesday said gold and gold receivables held by euro zone central banks rose by one million euros to 352 billion euros in the week ending August 6.

In its regular weekly consolidated financial statement, the ECB said net foreign exchange reserves in the Euro system of central banks were virtually unchanged at 191.7 billion euros.

Gold holdings rose because of purchases by a single euro zone central bank, consistent with the latest Central Bank Gold Agreement.

The banks' balance sheet, which now includes the government bonds it is currently buying as part of its bid to calm the euro zone debt crisis, totalled 1.965 trillion euros, the statement showed, slightly down from a week ago.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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