http://www.telegraph.co.uk/news/politics/labour/4162054/Gordon-Browns-decision-to-sell-half-of-the-UKs-gold-reserves-cost-UK-5billion.html
then think about this, half of its reserve would worth $10.5 billion $ today. but what is their figure of debts? it is T not B.
so the rumor that Europe countries may sell Gold to resolve their debts just don't make much sense (it is simple math). they sell Gold, their government will fail as fast as it can.