Chavez calls in troops to move first of 15,000 gold bars to Caracas central bank

Latin American Herald Tribune reports Venezuela’s first shipment of 160 – 180 tonnes of gold held abroad was received at Maiquetia International Airport outside Caracas on Friday night.

In operation that also involved tanks and aircraft, the first of some 15,000 standard 400-ounce bars wrapped in black plastic inside a caravan of armoured vehicles escorted by 500 soldiers then made its way to the bank’s headquarters downtown. President Hugo Chavez announced in August that the South American country plans to repatriate its gold reserves held by banks in England, the US, Canada and France. The Central Bank of Venezuela already holds 154 tons of bullion domestically.