Venezuela Takes Shipment of European Gold Holdings

Merentes didn't specify the quantity of gold shipped on Friday but told a rally of
supporters outside the central bank headquarters that it was valued at around $300
million. In August, President Hugo Chavez announced plans to repatriate foreign
reserves as part of a broader effort to nationalize the country's gold sector.
CARACAS, Venezuela -- Venezuelan officials Friday welcomed the first air shipment of
overseas gold holdings as part of a controversial move to repatriate the country's
foreign reserves held in North America and Europe.