The Bank Of England refuses to return $550 million in gold bars

gold bars
Written by Mike Hammer
The Bank of England has refused to return about $550 million in gold bars to Venezuela.  One London newspaper pointed at Nicolas Maduro, President of Venezuela, citing concerns that the gold may be “[sold] for personal gain.” Washington has already imposed trading sanctions against Venezuela, accusing Madura’s government of “looting” the country’s assets. The Venezuelan government says it is working toward becoming a major gold exporter and is in the process of certifying 32 gold fields and building an even larger number of processing plants.  This story isn’t done playing out yet, and it will likely take a long while to have any effect on world markets.  You can read more about it in today’s featured article…

Bank of England Refusing Venezuelan Request to Return $550 Mln in Gold – Report

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as continuing themes. Mike graduated with a business degree and spent years as a financial advisor, before moving to New York and to pursue a career in IT and education. For more than a decade Mike has been working with the Adam Mesh Trading Group as a stock market and commodities mentor. He’s trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to educational webinars.

Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keeps him in touch with "the student mindset".

Mike focuses on the precious metals markets, the energy industry, and the financial sector. His motto is "Plan your trade, then trade your plan!"

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