postheadericon Gold rallies 2.4%, Venezuela makes $1B gold swap

Gold rallies 2.4%, Venezuela makes $1B gold swap

COMEX gold rose 2.4% on Monday to $1,203.20/oz., its biggest gain in over three months. One of the suspected drivers of the rally is rather intriguing. In a deal with Citibank, the central bank of Venezuela has swapped a portion of its gold reserves for over $1 billion in cash, Reuters reported Read More
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Gold’s relationship with the U.S. dollar is changing

The World Gold Council (WGC) believes gold is still a valuable portfolio component even in times of a strong U.S. dollar and rising interest rates. The organization released the latest issue of its Gold Investor publication on Thursday, which re-examines gold’s relationships with the dollar and interest rates. Juan Carlos Artigas, director of investment research at Read More
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