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Venezuela Has Repatriated 160 Tonnes of Gold

According to Bloomberg, Venezuela has finished repatriating 160 of its gold stored in foreign vaults back on January 31st, 2012.

The amount is worth roughly 9 billion US dollars.

In ealry 2012, Venezuela was the 15th largest gold holder in the World with a total of 365 tonnes.

Of this total amount, 211 tonnes were held abroad in European, US and Canadian vaults.

15 % of Venezuela's gold will be left abroad for financial transactions. This is an amount of approximately 50 tonnes.

The Venezuelan gold was held (in August 2012) at the vaults of Bank of England, JPMorgan Chase & Co., Barclays Plc and Standard Chartered Plc, as well as several other financial institutions.

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