Venezuela is coming to get its $550 million of gold at the Bank of England

“In the past four years, Venezuela’s gold reserves have decreased to about 175 tons from about 400 tons, Reuters reported, citing statistics from the country’s central bank” writes Finanzen Net Gmbh for At the time the request was first reported, Reuters said that the Bank of England had “sought to clarify” Venezuela’s intentions in taking back its gold.Senior officials for the Venezuelan government have reportedly travelled to London for crunch talks with the Bank of England as they seek to repatriate more than $500 million of gold back to Caracas.It now appears that officials, including Venezuelan finance minister Simon Zerpa, and central bank governor Calixto Ortega Sanchez, have come to London to provide further clarity, according to Reuters.The government of Venezuelan President Nicolas Maduro in early November approached the Bank of England about removing roughly 16.5 tons of gold — worth in the region of $550 million — from the central bank’s vaults and returning it to South America.

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