What happens when a country decides to sell gold reserves?

To be more specific, how will it affect a country like Venezuela? https://www.youtube.com/watch?v=WvKHWECNV1M
Answers

Mark

Venezuela's inflation is an unheard of 1.5 Million percent. Without gold to back the bolivar, it's worth nothing. What needs to be done is to confiscate the corrupt government officials money which they stole and put it in their treasury.

Anjaree

yes in Italy. you may know it was a big loss of trust. it has never come back.