Global Market: Gift Nifty is trading around 80 points higher. Bullish mood was also seen in Asian markets. US INDICES remained mixed on Friday. The Dow Jones rose more than 300 points, but the Nasdaq remained under pressure.
Overnight coup!
America attacked Venezuela. Attacked on Friday night/Saturday morning. Venezuelan President Nicolas Maduro arrested. The President’s wife was also arrested. Maduro, his wife accused of drug trafficking. Maduro and his wife were put on trial. Maduro accused of terrorism, machine gun smuggling. Made many other allegations including conspiring to import cocaine. Delgy Rodrigues became acting President of Venezuela. Supreme Court’s Dalji was approved as acting President.
Venezuela’s Defense Minister has given a big statement that a large part of Maduro’s security team was killed in action.
America on target
China condemned America’s attack while Russia and Mexico also condemned America. Many countries including Cuba, Brazil, Colombia have condemned it.
Trump spoke on the attack
America will take over the governance of Venezuela. Will handle the governance until arrangements for change in leadership are made. We do not want anyone else to take over power. The embargo on Venezuelan oil will be fully implemented. Security forces have been asked to remain alert. Marco Rubio has spoken with Vice President Rodriguez. He said whatever you want we will do. There will be no American troops in Venezuela, but Rodriguez will have to do our bidding. America will develop oil infrastructure in Venezuela. Venezuela stole infrastructure from America. We will sell huge quantities of oil to other countries. The future for Maduro’s supporters may be bleak. If they don’t change their allegiance, their future is bleak.
Why is Venezuela important?
Venezuela has the largest reserves of oil. Venezuela has 303 billion barrels of oil reserves. The current value of Venezuela’s reserves is $17 trillion. Sanctions account for 1% of current global production. Important reserves of gold and rare earth minerals are present. There are reserves of 200 trillion cubic feet of natural gas. The market value of natural gas reserves stood at $800 billion.
Rise in gold and silver, pressure in crude
Gold and silver prices rose due to America’s action on Venezuela. Gold rose by one and a half percent and silver by more than 4%. There was slight pressure in the price of crude. Actually, America has retracted its statement on running Venezuela. America said the Foreign Minister’s clarification will not stop Venezuela, but the oil blockade will continue. Here China’s statement is that America should immediately release Maduro. Kidnapping the President is wrong.
Asian market
Meanwhile, today trading is on the rise in Asian markets. GIFT NIFTY is showing a gain of 71.00 points. At the same time, Nikkei is seen with a gain of about 2.53 percent around 51,614.00. At the same time, Strait Times is showing a growth of 0.60 percent. Taiwan’s market is trading at 30,143.56, up 2.70 percent. Whereas Hang Seng is seen with a gain of 0.34 percent at the level of 26,428.00. At the same time, Kospi is trading with a gain of 2.68 percent. At the same time, Shanghai Composite is showing a rise of 0.86 percent at the level of 4,003.35.