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Citibank of the international financial conglomerate Citigroup announced its intention to sell part of the Venezuelan gold held as collateral for a loan of $1,600 million, Reuters writes, citing informed sources. On March 11, Venezuela was to repay a loan of $1 billion 100 million. The market value of Venezuela’s gold stored as guarantee is about $1 billion 358 million. By selling this gold, Citibank will be able to recover the first tranche of the loan and will deposit the rest (approximately $258 million) in a bank account in New York to pay the rest of the loan next year.
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
Financial markets saw record heights earlier on Friday, with the Euro continuing its 21-month gain streak and gold prices hitting its highest level amid a weakened Dollar. The Euro soared above the Dollar by 1.7%, trading at $1.1616 for the ...
Gold prices rose earlier on Tuesday morning in Asia on the back of renewed hope as the U.S. and the Europe pledged on additional stimulus packages. In the U.S., another round of stimulus measures is underway in Congress, as previous stimulus ...
Gold prices traded lower in Asia on Friday morning amid hopes for COVID-19 vaccines from the U.S. and U.K. bolstered investor appetite. Sentiment was further boosted with the European Central Bank (ECB) signaling that it may leave interest ...
Gold prices were down slightly on Wednesday in Asia, losing gains made in a previous session. However, the safe haven asset’s losses remained limited as COVID-19 worries mounted on top of worsening U.S.-China relations. Gold futures ...
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