Gold declarations are down 22.61% compared with last year’s, the Guyana Gold Board (GGB) said yesterday, attributing the falling off to the slump in the world market price for the precious commodity.
A statement from the GGB yesterday said it had recorded lower levels of gold declaration for the various periods of 2014 compared to 2013. The combined statistics of all mining operations and gold dealers’ data for the year indicated that the expected output for 2014 will not be met as originally calculated at the start of the year.
“…The year-on-year decline may suggest a weak market, but such comparisons are still heavily influenced by the events of last year,” the GGB stated, adding that longer term analysis shows a market in good health.
It stated that the year-to-date volumes continue to extend the broad uptrend from the drop in 2009.