Venezuela sold 23 tonnes since early April

IMG Auteur
 
Published : May 21st, 2019
148 words - Reading time : less than a minute
( 0 vote, 0/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...

Scrap Monster/Paul Ploumis/5-20-2019

“Venezuela has sold nearly 14 tons of gold, worth approximately $570 million, from its reserves during the month of May this year. The country’s reserves have plunged to 29-year low of $7.9 billion, in accordance with data provided by Venezuela’s monetary authority.”

USAGOLD note: We should not overlook Venezuela’s out-sized role in keeping a lid on the gold price in recent months offering gold in a market all too willing to scoop it up at bargain-basement prices. Scrap Monster reports that the country sold 23 tonnes of gold since the beginning of April.  It goes on to say that Venezuela has sold 40% of its gold reserves since 2018, but that the Bank of England has blocked sales from its London holdings. With that set of facts in mind, one has to ask whether or not Venezuela might be at the bottom of the barrel.

Read the rest of the article at USA Gold
<< Previous article
Rate : Average note :0 (0 vote)
>> Next article
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS