Panama Increases Gold Exports

Panama exported 1,592 kilograms of gold valued at $64.4 million in the first seven months of this year.

If the math is correct, that is 15 percent or $24.6 more than in 2010, $54.7 more than in 2009, $62 million more than in 2008 and nearly $64.4 more than in 2007.

A Ministry of Economy and Finance report indicates that experts attribute the increase to the global economic situation, the European debt crisis and failure to raise the U.S. debt ceiling.

These same experts to which the report refers also say that when the price of gold falls, it can plunge quickly and drastically.

See Also: Petaquilla Strikes Gold in Panama, Supreme Court Sanctions $1,934,649 Fine for Unmitigated Mining

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