economy
May 4, 2026
The Hypocrisy of Gold
Non-monetary gold explained 140.5 points of growth in "Other sectors" Photo: iStock
TL;DR
- Gold is Colombia's second-largest export, surpassing coal and coffee.
- A substantial amount of Colombian gold comes from illegal mining controlled by criminal networks.
- International refineries process this gold, obscuring its illegal origin.
- The United States and Canada are major buyers and refining centers for Colombian gold.
- The gold trade serves as a significant money-laundering mechanism, replacing coca in some regions.
- This illicit gold trade fuels violence, environmental destruction, and mercury poisoning in Colombia.
- There is international hypocrisy in demanding action against drug trafficking while financial systems facilitate gold laundering.