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Global Markets: Brazil’s Former President Detained By Police

By Commodity News Service Canada

WINNIPEG, March 4 – The following is a glance at the news
moving markets globally.

Canada’s Gold Bullion Reserves Dwindle
The World Gold Council has released information that suggests Canada is down to its last few ounces of gold. During the past month the Federal government apparently sold off 22,000 ounces of gold coins for C$35 million. That leaves Canada with just over 75 ounces in reserve. In contrast, both Italy and France have more than 2,400 tonnes of bullion in their reserves.

A spokesman for the Federal Finance Department says Canada has a long-held policy of diversifying its portfolio by selling commodities like gold.

Indonesia Hit By Aftershocks
Strong aftershocks were felt in Indonesia just a day after a massive earthquake hit the Indian Ocean.
The original quake was measured at 7.8 on the Richter scale while six sizable aftershocks were recorded overnight.
Some evacuations took place as a precaution resulting in many traffic jams.
Fortunately, no one was injured.

Brazil’s Former President Detained
Police in Brazil have detained former president Luiz Inacio Lula da Silva in relation to a corruption probe.
Officers raided his home and transported him to a police station for questioning.
He has not been formally arrested or charged.
There are unproven allegations that da Silva received illegal benefits during his time as leader.

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