Group Title: CARIFESTA Newspaper Clippings
Title: Problem of gold: so some jewellers are sad
CITATION PAGE IMAGE ZOOMABLE
Full Citation
STANDARD VIEW MARC VIEW
Permanent Link: http://ufdc.ufl.edu/CA00199733/00001
 Material Information
Title: Problem of gold: so some jewellers are sad
Series Title: CARIFESTA Newspaper Clippings
Physical Description: Book
Creator: Osman, Raschid
Publisher: Sunday Graphic
Publication Date: 8/6/1972
 Subjects
Subject: Carifesta (1st : 1972 : Guyana), Festivals - Caribbean Area
Caribbean   ( lcsh )
Spatial Coverage: South America -- Guyana -- Georgetown
Caribbean
 Notes
Funding: Support for the development of the technical infrastructure and partner training provided by the United States Department of Education TICFIA program.
 Record Information
Bibliographic ID: CA00199733
Volume ID: VID00001
Source Institution: Caribbean Community (CARICOM) Secretariat
Holding Location: Caribbean Community (CARICOM) Secretariat
Rights Management: All rights reserved by the source institution and holding location.
Resource Identifier: CARIFESTA I 1972

Full Text





A problem of gold


/ By WASCHID OSMAN
VISTOIRS to th Caribbean
Festtvalo G Creative Arts
later tr-manth in George-
town oUl certeala tallU in a
big wy for Guyana'= gold
jewel. ry.
It is most liel. however,
that ue uwait flipee Be-
hacet and brooche and pop-
4uar slth bracelet wl not
be available in sficient
quanti to satisy the expect.
ed beep.
Arid jeweUler who were
all st to take advantage of
splurgi visitors are now
wrinfin, their hands and be3
moa nt the current short.
age of raw gold which has
upset their plans for cashing
in on the potential gold-mine
which the CARItESTA
crowds will bring with them.
"It was very silly of them
to be caugbt like that". one
of the CH's leading jewel.
lers sa'd astweek.
He seems to be the only
one pot affected by the short,
age of the shiny metal. Uny
like his fellow tradesmen, he
was not daugh 'napping.
"Surely they eoqld have
seen the shortage coming and
should have been wise enough
to buy all they could while
quantities of raw gold were,
still available", he sa4,l'
This astute jeweller was
quicd to realise that OA.I
FESTA weuld provide a ohqt
in the arm for the local jewel-
lery niarhet and he geared
his business fo it. He laid hi
stock b*well in advance and
at least h.is establ'sh
meint, visteja to the fotttval
.will e afforded Sewellery
quattie.s- not o be fod
elsewhere.
LocAL DNEA
Thui lweA ehr. i ig thaI
and not tt ls ito tea
wings In Ct ab iSTAu
splurge. Bewn of t e ,eqt

XP i X
rains apparently ver, fh
miner willU g out again and
In about two morttis' twIn
the atvabalital trawa ld
will go back to anml"'. ht
kpre4olt~.


Thi normalcy pr'ids1 for
around 2,000 ounces of p nre-
Mazarua~ and Cuy4 t ldane
each onth.
"cAtrr74TA *1d4e. mere
and more Gisawes~ hqve
been bWui n Wn awnd ore
of god il Iin o
to 1bi a *
position In a world where
eurreney rests on an ever-
shifting fteting". theaweller
elalims.
With this in mind, he deems
tt a pity that urge mining,
.for gOld is net eaviaed out
4 in uyana.
S "I know thie rofvs are


So some

jewellers

are sad
there. It is just *t park
knocliers nowadays concen-
trate we on diamonds, per.
happ because diamond mining
is lss laborious."-
The jeweller thinks it ridi.
cul9uis that with gold waiting
to be claimed from the Guy.
ana interior, this precious
metal has to be imported,
with a high import duty and
the burden of this being pass-
ed on to the Guyanese con-
sunier.
The c rent international
price for pure gold, an
whcl obtains too in Guyana
is artud $110 to $130 per
ounce.
uty of Q0 per cent i4 taok.
d on to gold imported frem
general 1pces while that
npote.l fr9m preferential
sources brings with it a duty
of 10 per cent.
NO STATISTIC$S


it ts diffle4t to **t mnai
how much gold comes -into
Quyana annually, as the Mi -
istry of QQnomic Dsvelop-
mept does not include this
iinmwt in 1tg trde statisa,
ThPe bhiire et to the I.
prr of overseas gold, ace,
ouWts fy" the wildly vars
I costs of gold jewellery

The 9@aiideble discaritP,
how'ev,, hhar bothers the
vyyanese femial who is beat
adorning her person, or
other half who has a Bre
teree for sdigs eo his
Sand chains dangling
fflw shirt,
Another jeweler spo1k, oi
siv r being very popular in
o'the countries of the region,
but not soi. In uyana,
A a result, thio astute


lrademaun ha. filled his
=liW=cas with a wide runge
ernding 1r~~inru f CARI-
FESTA persoiuucl and 'vsslt-
ers,
It-. oi.u* be too, *hat this

FRSTA into a much =ore


tipmt ag9.
ie gelt his
precious stones
eroutifln deslgis
sterling silver
5raftlomn!


i rge some

exotic semi-
in mounts of
and made of
by overseas


Of course, when the visit-
ors retun home soon af0W
eotember 15. the market for
silver will slump bac o -its
Las aluariouS and normal.
state, with the majer dwandR
rietuigdA to Guyana's ow
go01 or traditlo fill 4ie dt.
sign.


I




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