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Investors bet on gold’s storage capacity during challenging economic and geopolitical times value.
Gold prices reached record highs last year, and some analysts predict the precious metal could reach $3,000 an ounce. By the end of 2025. But the boom has also been linked to a surge in illegal gold mining.
“What we discovered during Research Marc Ummel, head of unit raw materials at Swissaid, said: “We have released data showing that more than 435 tons of gold were smuggled out of Africa in 2022. At current gold prices, this is equivalent to a value of more than $36 billion.”
small-scale illegal miningGhana’s galamsey provide livelihoods and an informal boost to the West African country’s economy. It has also been linked to environmental damage and disease.
At least 87 illegal miners die in South Africa This week they were trapped in an abandoned gold mine southwest of Johannesburg, the Associated Press reported.
So, what do investors need to know about gold’s origins? Will gold prices continue to soar? We travel to Ghana to learn about the impact of illegal mining.
