While the mining fraternity is pleased with the current high world market price for gold, some miners say that due to Coronavirus (COVID-19) restrictions and other factors they have been unable to maximise production.
Gold prices have risen sharply internationally as investors buy into safe havens and flee from the stock market. Governor of the Bank of Guyana, Gobind Ganga said the price is projected to increase, as in periods of economic uncertainty, when other commodities such as oil lose value.
Last week, spot gold was up 0.8% at US$1,726.94 per ounce on the world market and the Guyana Gold Board bought for US$1,738.58 per ounce.