Informal miners sell gold at huge discounts amid virus fallout
As Covid-19 curbs create a gold glut, artisanal miners are dropping prices by as much as 40% creating an opportunity for those who can still buy
01 April 2020 - 14:45
Informal gold miners from South America to Africa are selling gold at almost 40% discounts as measures to curb the coronavirus crimp supply routes and dry up funding.
Border restrictions and flight cancellations have created gold gluts in local markets, depressing prices for small-scale miners even as global prices are pushed back towards seven-year highs by investors piling into bullion as a safe-haven asset...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.