The United Kingdom has de facto seized $1 billion of gold stored in its bank from Venezuela at a time when the Latin American nation is grappling with the pandemic.
The escalating price of gold in Turkey, in tandem with the global market and the decrease of purchasing power, has led to an influx of products from Syria.
Indians are returning to one of their oldest assets amid a raging pandemic that was preceded by a banking crisis.
Russia’s total foreign holdings are now above the $500 billion targets set by the Central Bank of Russia a few years ago.
Gold prices climbed to its highest level in nearly eight years on Wednesday, as demand for the safe-haven asset was boosted by worries over a surge in coronavirus infections.
A member of Iran’s Expediency Council said the country has received money from Venezuela for selling gasoline with five oil tankers.
Gold prices climbed more than two percent on Monday to their highest since February 2013, as spikes in coronavirus cases in several countries outside China deepened worries about a hit to the global economic growth.
Iran is among the world’s top seven producers of gold and jewelry, but it has to work its way through the ranks to win a position as an exporter.
Head of Iran Gold and Jewelry Producers and Exporters Union Esfandiar Seifi said 130 companies from Iran, Turkey, Italy, Germany, Britain, and Japan are participating in the exhibition held through Feb. 12, 15.
Production of Mouteh Gold Mine in Isfahan Province amounted to 254 kilograms in the nine months ending December 21, 2019.