Gold shines bright for the Dominican Republic

Dolores

Administrator
Staff member
Feb 20, 2019
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Covid-19 and the low expectations of economic recovery have resulted in gold surpassing the record high of US$2,000 per ounce in New York trading on 4 August 2020. Global economic recovery is not expected for at least another two years.



Demand for gold has increased dramatically, making it the highest-paying commodity. The price of gold has surged 35% so far this year. The good news is that the Dominican Republic is a major gold producer. The good news is that the DR shares in profits when the price rises.



Factors supporting the gold price include the weak US economy causing depreciation of the dollar, resulting in other countries shifting their reserves to gold. Data shows that in the second quarter the US economy has suffered its harshest blow since the Great Depression due to the pandemic, while investors also geared up for an uncertain political situation in the country...

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Big

Well-known member
Apr 24, 2019
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The D.R is very much involved in gold mining and receive a huge amount of tax revenue from the mining companies,. huge!! The gold price surge has been a windfall for the D.R
 

jstarebel

Silver
Oct 4, 2013
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