Malawi liquidates domestic gold holdings to offset surging fuel import bill

Malawi has tapped its domestic gold reserves to help pay for higher fuel costs as the war in Iran fuels a global energy shock. The Reserve Bank of Malawi said Friday it sold 590 kilograms of gold—just over half a tonne—raising $78 million earmarked to cover rising fuel expenses. Speaking to Reuters, central bank spokesperson Boston Maliketi Banda said the gold sold was sourced from local artisanal miners. Full story at Kitco: