Maria Ramirez Hair
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The gold is one of the matters with greater stability in the international market

The analysts prehorseradish tree that against a greater weakness of the dollar, surpasses the barrier of the 1,030 dollars the ounce.

The director of the mining sector of National Fedecámaras, Gilberto Sanchez, indicated of all the commodities of minerals and metals, the gold is the one that has maintained its price and has increased. “It is not a new thing that the price has raised, since it was considered and it continues itself considering that could reach 1,500 dollars the ounce in six months, this because it has been the refuge more certainly the investors on world-wide scale must to assure a productive and stable investment”.

The practice to take refuge in gold has been a tradition in the past, and happens to other safe raw materials like platinum or the rhodium that maintains good prices and always grow.

Sanchez indicated that in the case of Venezuela, this one is the moment for taking advantage of this good perspective and that new scene in the national auriferous industry, located to the south of the country, so that can continue growing in the time viably. “And that advantage goes directed to improve the mining facilities and the technological systems that are required so that the industry is responsible with the environment and its surroundings”, added.

In surroundings of fall of the raw materials, whose reduction has been detrimental for the state productive apparatus, the gold has maintained its stability. “For two years back, the gold began to present/display a base in the scale superior and surpassing all the other commodities of minerals, which yes went very down in their prices”, it said.

The ex- president of the Mining Camera of Venezuela explained that the gold has stayed stable but now began the rise, “and this must that other matters as petroleum is continued maintaining low, and then the investors look for other average ones for the investment”.

Reinvestment and productivity
Sanchez aimed that in the case of the Venezuelan industry, the reinvestment to improve the facilities in agreement with the new nonpolluting technologies of the environment would have to be key, and with the greater advantage of the mineral.

“This, in addition, would have to take advantage to improve the productivity of the present operations”, said.

The industralist of the sector indicated that the mining branch comes following rules dictated by the Executive, except for the restrictions imposed for the sector deprived as far as the investment in auriferous matter, “by the caducación of contracts and concessions that have been taken by the State”.

They consider that the strategic alliances of the State with international companies render high productions for the end of the 2009, because “sees that they are acting in industrial means with certain acceleration”.

Regime of sale
At the beginning of May of 2009, the Central bank of Venezuela published in Official Newspaper the new norms on the regime of gold commercialization and their alloys, that they establish that of 70% of the national auriferous production destined to the internal market, 60% must be sold “obligatorily” the emitting being, whereas only a 10% are placed in the national transforming sector.

Only 30% rest could be exported, previous authorization of the BCV and once demonstrated the fulfillment of the quotas destined to the internal market.

The director of Fedecámaras for the mining sector indicated that “if the BCV restricts the export they are not going to have currencies sufficient to decide on an extension of the industry as it requires itself, because the majority is towards obsolescence”.

Economic analysts indicate, at the time, that the modification of these norms responded to the necessity to maintain in good level the international reserves.

Future perspective

The future perspective of the prices of the rest of the commodities depends on the recovery and the disappearance of the economic recession.

The enterprise leader, Gilberto Sanchez, indicated that he is spoken of the quick exit of the recession, “but not of the financial crisis that continues making stumbling blocks”.

“While the papers of the financial sector are not cleaned, there will be no recovery, and if there is no investment is no development and, therefore, growth”.

Sanchez emphasized that the recovery of the prices will depend on real the productive sector.