So which central bank or treasury department has been dumping all that metal?

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ECB Gold Reserves Down € 40 Million,
Forex + € 400 Million In Week To Oct 6

By Saadia Hashmy
Dow Jones Newswires
Tuesday, October 10, 2006

http://www.nasdaq.com/aspxcontent/NewsStory.aspx?cpath=20061010%5cACQDJO... [1]

LONDON -- The Eurosystem's reserves of gold and gold receivables fell € 40 million to € 175.33 billion in the week ended Oct. 6, the European Central Bank said Tuesday.

The Eurosystem's reserves of net foreign-currency increased € 400 million to € 153.2 billion during the period.

The ECB said cash in circulation rose € 3.7 billion to € 592.9 billion.

Meanwhile, liabilities to the general government fell € 6.1 billion to € 60.3 billion.

The Eurosystem consists of the Frankfurt-based ECB and the 12 euro-zone national central banks.

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