Published on Gold Anti-Trust Action Committee (http://www.gata.org)

UAE's Noor Capital says it bought 3 tonnes of gold from Venezuela

By cpowell
Created 2019-02-02 14:37

By Mayela Armas
Friday, February 1, 2019

CARACAS, Venezuela -- Abu Dhabi investment firm Noor Capital said today it bought 3 tonnes of gold on Jan. 21 from Venezuela's central bank, at a time when President Nicolas Maduro is seeking to keep his crisis-stricken government solvent.

Noor Capital said in a statement it would refrain from further transactions until Venezuela's situation stabilizes and its purchase was in accordance with "international standards and laws in place" as of Jan. 21.

... Dispatch continues below ...


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Reuters reported Thursday that Venezuela had shipped 3 tonnes of gold to the United Arab Emirates on Jan. 26 and would sell 15 tonnes more to the country in the coming days.

Venezuela's plan was to sell 29 tonnes of gold held in Caracas to the UAE by February in order to provide liquidity for imports of basic goods, a senior official said.

Two high-level Venezuelan central bank officials were made to resign on Thursday and today because they did not want to authorize the sale of gold, three sources familiar with the situation said, declining to be named because the situation was sensitive. ...

... For the remainder of the report:

https://www.reuters.com/article/us-venezuela-politics-gold/uaes-noor-cap... [2]

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