President Donald Ramotar yesterday retreated from his previous position that a 20% drop in gold declarations up to May was because of hoarding by miners.
“Did I ever say there is hoarding of gold?” he questioned when asked about the matter during a news conference at State House yesterday. “I [don’t] remember saying that, what I was saying that… there was a fall in declarations but at that time I didn’t see, maybe implicit in what I said…” the President offered, even as reporters indicated to him that he had indeed blamed hoarding for the drop in declarations.
“As far as I see… probably the price is having an impact on these things and probably there’s delayed declarations,” he said smiling. “Probably there’s delayed declarations in some instance,” he said.
“There has been a drastic reduction in declaration which means that there seems to be a lot of hoarding taking place,”