Venezuela gold reserve value falls 14 percent

Gold held by Venezuela's central bank fell 14 percent in value in 2017 compared with the previous year, according to the bank's financial statement. Gold represents just under 70 percent of the bank's international reserves, which at the end of 2017 totalled $9.665 billion. The value of Venezuela's monetary gold stood at $6.626 billion as of December 2017, according to the most recent official information. The fall comes amid a major economic crisis in Venezuela, with millions suffering food shortages and the government struggling to import basic products.