Venezuela shipped over 100 tons of gold to Switzerland | Metals Mine

  • Venezuela shipped over 100 tons of gold to Switzerland

    From e.vnexpress.net

    Venezuela transported 113 metric tons of gold to Switzerland from 2013 to 2016, according to customs data reviewed by Reuters. The gold originated from Venezuela's central bank, Swiss broadcaster SRF said, at a time when the government was selling down gold to support its economy. The gold was worth almost 4.14 billion Swiss francs (US$5.20 billion) and transported during the early years of the leadership of President Nicolas Maduro. "There was big distress selling by the Venezuelan central bank from 2012 to 2016. A lot of this will have come to Switzerland," said Rhona O'Connell, a markets analyst at StoneX. ... (full story)

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