查韦斯下令将黄金储备“运回家”Chávez orders return of 211 tonnes of gold

Bullion traders are preparing for one of the largest transfers of physical gold in recent history after Hugo Chávez, Venezuela’s president, ordered the country’s gold reserves to be returned to Caracas.

委内瑞拉总统乌戈•查韦斯(Hugo Chávez)下令将本国黄金储备运回加拉加斯，这将是近代历史上规模最大的实物黄金转移行动之一。黄金交易商们正为此进行准备。

Venezuela’s central bank is the world’s 15th largest holder of gold, with 365.8 tonnes, of which some 211 tonnes, worth $12.3bn, are held overseas, according to a proposal for the transfer from the Venezuelan central bank and finance ministry.

据委内瑞拉央行和财政部为此项转移拟定的一份提案所述，委内瑞拉央行是全球第15大黄金持有者，持有黄金365.8吨，其中约211吨（价值123亿美元）存放在海外。

Gold traders and logistics specialists said the transfer of 211 tonnes of gold – about 17,000 standard 400-ounce bars – would represent one of the largest moves of physical gold in decades. While billions of dollars worth of gold is traded every day, only a tiny proportion of it moves from vaults in London, New York and Zurich.

黄金交易商和物流专家表示，此次转移211吨黄金（大约1.7万条标准400盎司金条）的行动，将是近几十年来最大规模的实物黄金转移之一。虽然每天有价值数十亿美元的黄金交易，但真正从伦敦、纽约和苏黎世金库中转移出来的黄金为数很少。

Mike Cundy, director of security for G4S, which along with Brink’s dominates the bullion logistics industry, said: “This would be a very big one – I can’t think of another case where we’ve moved that sort of thing.”

G4S安全事务总监迈克•坎迪(Mike Cundy)表示：“这将是一次规模十分巨大的转移，我想不出以前有哪一次我们转移过这么多黄金。”G4S和Brink's在黄金物流行业占据着主导地位。

A large proportion of the gold is in London, according to figures in the proposal document, with the Bank of England holding 99.2 tonnes. The Venezuelan central bank also has gold deposit accounts with Barclays, HSBC and Standard Chartered that would be delivered to the Bank of England, traders said.

根据上述提案中的数据，委内瑞拉海外黄金大部分存放在伦敦，其中有99.2吨存在英国央行。此外，交易员们称，委内瑞拉央行在巴克莱(Barclays)、汇丰(HSBC)和渣打(Standard Chartered)都有黄金存储账户，这些将被运送到英国央行。

Mr Chávez said on Wednesday night that he had signed the plan to repatriate at least 90 per cent of Venezuela’s gold reserves as well as moving foreign exchange reserves out of US and European banks. The country could still reverse its decision, analysts warned.

查韦斯周三晚间表示，他已签署了将委内瑞拉至少90%的黄金储备运回本国、并将外汇储备撤出美欧银行的计划。分析师们警告称，委内瑞拉仍有可能取消上述决定。

The move is part of a broader strategy to decrease dependence on countries that Venezuela considers hostile: the proposal document cited the possibility that the US Federal Reserve could freeze dollar assets. Countries such as Iran and Libya, which have been subject to international sanctions, have in the past repatriated gold reserves, traders said.

委内瑞拉认为一些国家对其怀有敌意。委内瑞拉推行了一项更广泛的战略，来降低对这些国家的依赖，此举就是其中的一个环节：上述提案中就提到了美联储冻结（委内瑞拉）美元资产的可能性。交易员们称，伊朗、利比亚等受到国际制裁的国家，过去就曾把黄金储备运回本国。

Libya’s foreign reserves were frozen after war broke out this year.

今年利比亚战争爆发后，该国外汇储备遭到了冻结。

“There is a growing preference among many different communities in the gold market to have their physical gold at home,” said Edel Tully, precious metals strategist at UBS.

瑞银(UBS)贵金属分析师埃德尔•塔利(Edel Tully)表示：“在黄金市场上的许多不同群体中，一种把实物黄金存放在本国的倾向日益增强。”

Venezuela would need to transport the gold in several trips since the high value of gold means it would be impossible to insure a single aircraft carrying 211 tonnes, traders said.

交易员们表示，委内瑞拉需要分几次运送这批黄金，因为这批黄金价值巨大，用一架飞机运送211吨黄金是无法投保的。

They added it could take about 40 shipments to move the gold back to Caracas.

他们称，要把这批黄金运回加拉加斯，大约要运40趟。

“It’s going to be quite a task. Logistically, I’m not sure if the central bank realises the magnitude of the task ahead of them,” said one senior gold banker.

一位从事黄金交易的资深银行家表示：“这将是一项十分巨大的任务，从物流上来说，我不清楚该国央行是否意识到他们眼前这项任务的艰巨性。”