-
Venezuela shipped over 100 tons of gold to Switzerland
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)
- Comments / Top
- Subscribe
-
Related Stories
From beemarkets.com | Jan 6, 2026
The UK government has indicated it will continue to block the return of Venezuela's $4.8 billion in gold reserves, even after the dramatic arrest of the country's autocratic ruler, Nicolas Maduro. Speaking to lawmakers, Foreign Secretary Yvette Cooper suggested London would not recognize the new leadership in Caracas, meaning the Bank of England will likely ...
I am pleased to announce that the Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America. This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States! I have asked Energy Secretary Chris Wright to execute this plan, immediately. It will be taken by storage ships, and brought directly to unloading docks in the United States. Thank you for your attention to this matter! DONALD J. TRUMPPRESIDENT OF THE UNITED STATES OF AMERICA
The upheaval in Venezuela has huge implications for global markets, most notably in the energy space given the fact that they have the highest proven oil reserves of any nation. However, the volatility seen over recent days highlights the two sides of the story for traders to understand.
