Venezuela brings back its gold reserves

Note: This section contains information in English only.
Source: Commodityonline
© Scanpix/reuters

The second shipment of gold repatriated from European and North American banks to Venezuela arrived in Caracas, said Hugo Chavez, Venezuelan President. The first yellow metal's shipment arrived November 25 without announcing any further information on amount. August's estimates showed the country has 211 tons of overseas commodity reserves. The president is concerned about the situation in the developed economies and wants to bring back all Venezuelan gold being worth 11 billion dollars.

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