On Monday, January 10, the president of the United States, Donald Trump, imposed 25% tariffs on all imports of steel and aluminum, without exceptions or exemptions. The measure impacted the gold pricewhich exceeded US $ 2,900, maintaining the tendency of recent months and reflecting concerns about the commercial war, as well as the interest of central banks in diversifying their reserves.
“The formal, informal and illegal dams are in Bonanza,” said José de Echave, former Minister of Environmental Management, to the Republic.
And it is that gold is the Second most exported product in Peruand represents 27% of exports. According to Jorge Manco Zaconetti, a researcher at the Faculty of Economics at the San Marcos University, the country produces seven million ounces of gold daily, of which five and a half million are reported by the BCRP. However, the remaining and a half million would come out unofficially through Puno or Madre de Dios to Bolivia, and by Piura or the Amazon region towards Ecuador.
Although the presence of illegality is not new in the sector, it is the amount of gold accumulated in net international reserves: 4% or 34 tons. It is the same amount as that of Boliviacountry to which we exceed the GDP in five times, and less than that of Venezuelaa country in crisis.
“65% are sovereign bonds, papers, special turn rights that, before a world financial crisis such as the one visualized, would lose value,” he said.
De Echave, also a Cooperaction researcher, explained that for 22 years the ounce of gold was at US $ 270 and is now at US $ 2,800, according to the figures of the London Metal Stock Exchange. In that sense, how much has Peru lost?
“The highest price will generate more taxes for the State, so it would be the right time to accelerate the agenda of expediting permits for extensions or new atrifer projects,” said Juan Carlos Ortiz, vice president of the Institute of Mining Engineers Peru (IIMP).
For his part, Jorge Manco indicated that attributions should be given to Nation Bank to buy informal gold paying a premium; That is, a surcharge, with the condition that miners formalize.
But this idea would face a structural obstacle: 90% of the exploitation of gold made by organized miners is given in invaded private concessions.
Source: Larepublica
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