Eurosystem Sold Gold For 98 Million Euros

One Eurosystem central bank has sold gold with a value of 98 milion Euros in the week ending on October 7, the European Central Bank (ECB) reported on Tuesday. Assuming a gold price of 395 Euros per ounce this translates into sales of a little more than 248,100 ounces. The position gold and gold receivables in the ECB's weekly financial statement shrunk to 149,784 billion Euros.