Falling price of gold amid coronavirus crisis

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A gram of gold which they used to sell at Kshs. 290 now trades @ kshs.150 with the prices expected to fall in the coming weeks

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Artisanal gold miners of Nyatike sub county In Migori are crying foul of exploitation my middle men who hava taken advantage of the outbreak of COVID-19 virus to exploit them.
The miners who have now reduced their normal operations by 70% say that the prices of gold gave greatly been affected by ongoing government regulation in relation to the disease outbreak.
A gram of gold which they used to sell at Kshs. 290 now trades @ kshs.150 with the prices expected to fall in the coming weeks.

The miners say the brokers take advantage of the current economic situations to exploit them .  Roggers Juma , one of the miners said that the Kenyan government should now regulate the pricing of the commodity despite the economic hard times experienced at the country and even globaly.

He added that should the trend continue then they are likely to consider other avenues of stopping the exploitation.
The miners say that following the outbreak of the deadly virus, they have cut down their force by half to adhere to government regulations …in addition , they have also set rules guiding the mines barring outsiders from setting a foot the mines.

They added that any attempt by the government to closed down the mines will have devastating impacts on the Nyatike residents since mining has been the backbone of the regions economy.

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Omondi Oyani

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