Archive · 19 Jul 2026
Illicit Gold Economy Booms Amid Record Highs
Gold prices have been going up a lot, which is good for investors.
But it's also made illegal gold mining a big problem.
Bad guys are making lots of money from illegal gold, which is hurting the environment and making it hard for governments to collect taxes.
They mix illegal gold with legal gold and use fake papers to sell it.
This is bad because it helps criminals, hurts the environment, and costs governments money.
Experts say we need better rules and teamwork to stop this.
Illicit gold mining generates US$12-48 billion annually, fueled by soaring gold prices.
Criminal networks use illegal gold to finance operations, often more profitably than drugs.
Illegal mining causes deforestation, mercury pollution, and biodiversity loss.
Governments lose billions in tax revenue due to informal gold trade.
Experts call for international cooperation and stronger oversight to combat the illicit gold economy.
- Who
- Organised crime, armed groups, and non-state actors
- What
- Illicit gold mining and trafficking
- When
- Over the past five years, with significant growth in early 2026
- Where
- Amazon basin, Southeast Asia, and Sub-Saharan Africa
- Why
- Soaring gold prices and strong global demand
- Estimated illicit gold economy
- US$12-48 billion annually
- Gold price increase (5 years)
- 182%
- Gold price (early 2026)
- Above US$5,600/oz
- ASGM share of global production
- 20%
- ASGM share of global mining workforce
- 80%
- Informal ASGM
- Around 80%
- Mercury emissions from ASGM
- 37% of global total
- Countries studied
- 10
- Regions covered
- Amazon, Southeast Asia, Sub-Saharan Africa