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Venezuela says gold repatriation to start soon

Oct 6th, 2011 07:48 by News

06-Oct (Reuters) — Venezuela will begin repatriating its gold reserves from Western nations by mid-November, the central bank head said on Wednesday.

“We’re in the final phase of the logistics … Soon the Venezuelan people will know when the first boat is coming,” Nelson Merentes said, according to state news agency AVN.

President Hugo Chavez announced in August that the South American OPEC member nation would bring bring home almost all its $11 billion in gold reserves held abroad — a nationalistic move that has hurt market confidence.

[source]

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