Commodity Trade Mantra

Posts Tagged ‘Gold Swap’

Action in the Gold Market

On a positive note, there is strong buying support around US$1,180, which is where gold prices rallied from overnight. The good news for gold is that there is still very little investor interest in the gold market. In short, gold is not cool. That’s exactly how bear market’s end and bull markets start.

Venezuela Begins Liquidating Its Gold

Venezuela’s primary export is oil, that has been slammed in recent months on tumbling oil prices. Venezuela faces a cash crunch following maturity of a 1 billion euro bond this month & coupon payments of $700 million in April. Its central bank is in talks with Wall Street banks to create a gold swap in exchange for $1.5 billion cash.

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