Neither the embassy of the United Arab Emirates in Colombia, which covers Venezuela, or the central bank responded immediately to requests for comment. Venezuela had gold reserves of 132 tonnes between the central bank's vaults and the Bank of England at the end of November, according to central bank data. But once supplies of unrefined gold from Venezuela's small-scale mines ran low, the central bank began to sell gold reserves to allied countries, the source said. Central bank data shows a decline in gold reserves over the past year. By November holdings had fallen to a 75 year low of 132 tonnes, central bank data showed.

Source: bd News24 January 31, 2019 22:18 UTC