The financial and economic crisis the country is experiencing boasted an authentic "gold rush" and the business of selling gold continues to increase.
Historically, we can see that in times of crisis there is always a business that emerges. In this crisis, there is one that has grown at a staggering pace: the buying and selling of gold.
The explanation for this phenomenon has to do mainly with the crisis in stock markets which consequently increased the price of gold to record highs and the effect of a new trend: the rise of specialized stores.
According to data from Imprensa Nacional – Casa da Moeda (Portuguese Mint), four new stores open everyday.
Much of the gold acquired by this kind of stores is marketed abroad. Last year, Portugal exported 13 tons of gold, which materialized into shooting 140% of exports of gold, these data shows the important role of the market in the Portuguese economy.
The lack of a rigid inspection has been a major criticism of this market. Like in any other, business, there is a code that regulates the activity. However, largely due to stifling competition, the process is not completed and the lack of supervision is utilized to sell stolen gold.
The assaults are one of the main fears that plague those who work in this business, nevertheless the business continues to grow, and the Portuguese see here an opportunity to deceive the crisis.