Gold Prices Peak As Nigeria Cracks Down on Illegal Mining
The price of gold has surged to a record high, with spot gold reaching $3,535 per ounce. This increase comes as the Nigerian government intensifies its efforts to combat illegal gold mining in the country.
The government’s crackdown on illicit mining activities aims to protect the nation’s precious resources and ensure that the benefits of gold mining are harnessed for the country’s economic growth.
The move is expected to boost investor confidence and attract legitimate investment into the sector.
As gold prices continue to rise, the Nigerian government is likely to benefit from its efforts to regulate the industry and prevent smuggling and other illicit activities.
The record-breaking gold price is a significant development for the country’s economy, and the government’s actions are expected to have a positive impact on the sector’s future.
