By Admin 
Today, while the price of gold in India is skyrocketing, would you believe that there exists a country in the world where the price of one gram of gold is less than the price of a cup of tea. Yes… this may surprise the listener for once, but it is absolutely true and that country is Venezuela located in the South American continent.
1 gram 24 carat gold for Rs 181
In India, people have to spend their hard-earned money to buy gold, but in Venezuela, gold is available at throwaway prices. If we pay attention to the current price of gold in India, then the price of one gram of 24 carat gold is around Rs 13,827, whereas in Venezuela, the price of one gram of 24 carat gold is only Rs 181.65 (in Indian Rupees). At the same time, if we look at the price of gold of 22 carat purity in Venezuela, it is Rs 166 per gram. In such a situation, it would not be wrong to say that at the same price for which one gram of gold is available in Venezuela, only one cup of tea will be available in any big restaurant in India.
Why is gold so cheap in Venezuela?
However, finding gold at such a low price in Venezuela is not a joy, but it is a symbol of the destruction and historical decline of the currency Venezuelan Bolivar (VES). In fact, the Venezuelan government used its country’s gold reserves extensively to manage its country’s economy and repay the loans taken. The result was that the gold reserves of the country which was once loaded with gold kept decreasing year after year.
A huge store of nature’s treasures is buried under the soil of Venezuela.
According to Trading Economics data, by the year 2024, only 161 tons of gold was left in Venezuela’s gold reserves. Whereas according to the World Gold Council, by the end of 2024, the official gold production in Venezuela will be only 30.6 tonnes, which is zero at the global level.
However, according to official claims, Venezuela not only has 17 percent of the world’s crude oil reserves, but also has huge reserves of more than 8,000 tons of gold, diamonds and bauxite buried under Venezuelan soil in the Orinoco Mining Arch. Still, this country does not come in the list of the richest countries in the world due to corruption, mismanagement and weak policies.
Also read: ‘Until Mamata Banerjee arrived with the police…’, ED makes serious allegations against Bengal CM regarding I-PAC raid