Trump began to gain from the plan to remove Maduro from power in Venezuela and replace him with Delcy Rodriguez, the acting president, by concluding a series of agreements to exploit Venezuela’s oil and gold wealth.
In this context, the Venezuelan state-owned company, Minerven, concluded a major agreement to supply gold with Trafigura, a global company specializing in commodity trade, in a move aimed at strengthening American influence over Venezuelan natural resources.
Under this agreement, Minerven will commit to supplying Trafigura with an amount ranging between 650 and 1,000 kilograms of raw gold bullion, provided that the final gold purity reaches 98%. Trafigura will later transport this gold to American refineries under a special arrangement with the federal government, a process facilitated by US Secretary of the Interior Doug Burgum, who recently visited Venezuela to discuss investment opportunities in the oil and mineral sectors.
This deal comes in light of a noticeable rise in gold prices, as a result of global financial instability, as the cost of one kilogram of pure gold currently amounts to about $166,000. At the close of last week, spot gold contracts recorded $5,171.12 per ounce, an increase of 1.85% on Friday, after the release of very negative employment data and the expansion of the scope of the war on Iran.
No report or analysis has been published about the impact of this agreement on gold prices globally or in the United States of America. (investing)
