Gold is not just a metal, but also a protective asset that not only individuals, but also entire States rely on within difficult times. Investing in it allows us not only to protect us from inflation, but also to survive major economic disasters caused by various reasons.
For example, known to many for its difficult economic situation, Venezuela has recently asked the Bank of England to unblock the gold belonging to this Latin American country.
According to reports from the Reuters, the oil state was prompted to take this step by the recent large collapses in the price of black gold and the need to finance the fight against the COVID -19 epidemic.
The Bank of England holds approximately 31 tons of Venezuelan gold, while the entire gold reserve of this Latin American country is about 162 tons. The sale of part of this volume will provide Venezuela with an influx of foreign currency, which will help the country in the fight against the coronavirus and its consequence — the deterioration of the already difficult economic situation.
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