*Scoop: Trump officials broker massive U.S.-Venezuela gold deal*
Marc Caputo
<https://archive.fo/o/1ZHhP/https:/www.axios.com/authors/mcaputo>,
https://www.axios.com/2026/03/05/trump-us-venezuela-gold-deal
Venezuela's
<https://archive.fo/o/1ZHhP/https:/www.axios.com/2026/01/07/trump-venezuela-oil-power-play>state-owned
mining company on Monday inked a multimillion-dollar deal to sell as
many as 1,000 kilograms of gold destined for U.S. markets, two sources
familiar with the deal tell Axios.
*Why it matters*: The arrangement shows the tightening commercial bounds
between Venezuela and the U.S. after President Trump
<https://archive.fo/o/1ZHhP/https:/www.axios.com/politics-policy/donald-trump>ousted
that nation's indicted socialist dictator and exerted de facto control
over its oil-rich petroleum company.
*Zoom in:*The gold deal requires state-owned company Minerven to furnish
650 to 1,000 kilos of Gold Dore bars to the commodities trader
Trafigura, according to one of the sources.
* The contract calls for 98% final gold content, the source said.
* Trafigura will shepherd the gold to U.S. refineries under a separate
arrangement with the U.S. government, that source said.
* U.S. Interior Secretary Doug Burgum, who arrived in Venezuela
<https://archive.fo/o/1ZHhP/https:/www.newsnationnow.com/politics/trump-administration-seeks-deal-venezuelan-oil-minerals/>Wednesday
to discuss oil and mineral opportunities, helped shepherd the gold
contract.
*Today*, a kilogram of pure gold costs about $166,000.
* The price varies depending on the market, but gold's price has risen
amid global financial uncertainty.
* The price of oil has been rising since the U.S. and Israel attacked
Iran, one of the world's largest oil producers.
*Zoom out: *This contract is the third extraction deal made under the
Trump administration's supervision as the U.S. has taken control of
Venezuela's most crucial and abundant resource, oil.
* Trafigura is also involved in those oil contracts worth more than $1
billion.
* "The oil is beginning to flow, and the professionalism and
dedication between both countries is a very nice thing to see!"
Trump posted
<https://archive.fo/o/1ZHhP/https:/truthsocial.com/@realDonaldTrump/posts/116172714486213504>Wednesday
on Truth Social, also praising Venezuela's acting president, Delcy
Rodriguez.
* Rodriguez on Wednesday announced a plan
<https://archive.fo/o/1ZHhP/https:/www.mining.com/web/venezuela-mining-reform-coming-soon-acting-president-says/>to
reform the country's mining laws after she met with Burgum.
*What they're saying:*The U.S. ouster of Nicolas Maduro on Jan. 3 and
its subsequent control of Venezuela's resources has drawn criticism from
congressional Democrats and liberals, who accuse Trump's administration
of imperialism
<https://archive.fo/o/1ZHhP/https:/www.newyorker.com/news/the-financial-page/the-folly-of-trumps-oil-imperialism>and
corruption <https://archive.fo/XPGS1>.
* But one of the sources familiar with the gold and oil deals said
they benefit Venezuela more now because the country has access to
U.S. markets and a stable financial system.
* "There was so much corruption before in Venezuela involving
black-market smugglers who skimmed money off the top," the source said.
* "Now the money for Venezuela's resources will go to Venezuela's
government and people. And instead of the gold going overseas to
Turkey or Iran, that resource is coming to the U.S."
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