Surge in demand fuels illegal gold hunt

Desperate times: Miners panning for gold along a stream near Korowai, Papua. — AFP

WITH Covid-19 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 (RM8,264) an ounce last month.