Indonesians turn to illegal gold mining as coronavirus pandemic hits economy

With the coronavirus devastating jobs across the country, desperate Indonesians are flocking to illegal gold mines as the soaring price of the precious metal overrides the risk to their lives and the environment.Spooked by the economic destruction wrought by the pandemic, consumers and investors around the world have been snapping up gold, which is seen as a hedge against volatility, sending its price to a record above US$2,000 an ounce last month.The surge in demand has fuelled a boom in…

from South China Morning Post https://www.scmp.com/news/asia/southeast-asia/article/3102772/indonesians-turn-illegal-gold-mining-coronavirus-pandemic