Gold declarations down 39.3%

Gold declarations for the first two months of the year have plunged by almost 40%, according to data from the Guyana Gold Board and with less gold being exported earnings have also dropped significantly.

Figures show that for January and February, gold declarations stood at 56, 263 ounces compared to 92, 721 ounces for the corresponding two months last year representing a steep drop of 39.3%. Earnings from gold exports for both the Guyana Gold Board and dealers were pegged at US$55.5 million compared to US$71.4 million last year. Exports have also dropped.

Gold declarations and earnings have been on a downward spiral since