The dynamics (fate) of trace metals in suspended particulate matter within the Gulf of Riga has not yet been adequately addressed in the scientific literature. Therefore, during a two year period (2001-2002) samples of suspended particulate matter and surface sediments for trace metal analysis were collected in the Gulf of Riga and the Daugava river, and these data were combined with background information from the national marine monitoring program in Latvia. This paper presents a descriptive study of solid phase trace metals (aluminium, iron, cadmium, chromium, copper, manganese, nickel, lead and zinc) dynamics and their spatial distribution within the Gulf of Riga based on Principal Component Analysis and Cluster analysis. Fluvial particulate matter and particulate Al, Fe, Cr and Ni were brought into the Gulf of Riga mainly during spring flood and thereafter quickly diluted by the water masses of the Gulf of Riga. Fine-grained suspended material and particulate Al and Fe were well mixed and evenly distributed through all deepwater basins of the Gulf of Riga. The increase of particulate Mn below the thermocline in August and a strong negative correlation with dissolved oxygen concentrations suggested that particulate Mn in the water column and the sediments were regulated mainly by changing oxic-anoxic conditions in the sediments of the Gulf of Riga. The observed correlation between Al and Fe in the water column is in contrast to that observed in the nepheloid layer where Fe correlated with Mn, obviously due to fast diagenetic processes on sediment surface. The observed negative correlation of Cd and Zn with total carbon and total nitrogen in the nepheloid layer might indicate different sedimentation mechanisms of these elements, however, this assumption is still inconclusive.