As Warnings Flash in Venezuela, Gold Holdings Sink Yet Again
- Country’s bullion holdings drop 5.9% in May, IMF data show
- Gold reserves contract in the four months through May
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As Venezuela’s crisis swells, its gold reserves are shrinking.
The holdings fell again in May, sliding to 6.24 million ounces from 6.63 million ounces in April to post a fourth consecutive drop, according to data from the International Monetary Fund website. Over the past year, the country’s hoard has shrunk 36 percent, and since February 2015 it’s nearly halved.