http://seekingalpha.com/article/3443136-yet-another-bearish-sign-for-gold-venezuela?ifp=0 Summary: * Current macroeconomic trends with rising rates in the US and Venezuela's negative economic outlook will weigh heavily on gold going forward. * Venezuela's current position is similar to that of Cyprus in 2013, where they were almost forced to liquidate 10.36 tonnes of gold to cover their debt burden. * This potential liquidation could have a massive spillover effect on the price of gold and other commodities as it is likely to be roughly 60 times larger than Cyprus'.
Something similar happened about 5 months ago for $1.5bn worth of gold- http://forums.silverstackers.com/topic-62009-venezuela-cashes-in-gold-to-avert-dollar-drought.html
