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'.
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'.