Venezuelan gold becomes state property. The aim is to "strengthen the country's independence" and carry on "the fight against armed gangs and smuggling", explained President Hugo Chavez, who signed a law to nationalize the extraction and export of the metal yellow.
The problems are above all in the north of Venezuela, where 60% of the gold production not authorized by the state is concentrated. The President also assured that within a few weeks the repatriation of the gold reserves deposited abroad will begin, 4/5 in Great Britain. Gold is currently trading at $1852,30 an ounce.
