President Chavez has explained the move as an act of sovereignty that will protect Venezuela's reserves from global economic turbulence.

BBC: Chavez repatriates Venezuela's foreign gold reserves

Mr. LOPEZ-OBRADOR: (Through translator) The main aim of this legitimate government will be to protect the rights of the people, to defend the patrimony of all Mexicans and the national sovereignty.

NPR: Mexico's Obrador Vows to Continue Fighting for the Presidency