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Gold Market Shockwave: US Acquires ₹830 Crore Gold; Russia-China Silent, Will Prices Change?
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US acquires $100M Venezuelan gold; strategic move for tech, defense needs
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News18
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09-03-2026, 18:43
US acquires $100M Venezuelan gold; strategic move for tech, defense needs
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US received $100 million (approx. 830 crore rupees) worth of gold from Venezuela, confirmed by US Interior Secretary Doug Burgum.
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The transaction occurred after Washington eased some restrictions on Venezuela, signaling a strategic shift in resource acquisition.
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Experts view this as part of a long-term US strategy to secure critical minerals for future technology, defense, and AI sectors.
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Venezuela, rich in oil and minerals like gold, bauxite, and iron ore, is becoming strategically vital for superpowers.
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The US Treasury's new license for Venezuela's gold sector facilitates such deals, intensifying global competition for mineral resources.
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