Crisis Affects Gold and Silver Craftsmen

(Taxco, JG 2 November) Taxco’s famed silver merchants have “hit bottom” according to press reports quoting Guerrero’s Secretary of Economic Development, Silvano Blanco Deaquino. The government has offered assistance in the form of working capital loans both to organized and independent artisans, to help them continue to work during this period of severe economic recession. In nearby Iguala, known for its goldsmiths, sales have fallen off by 85% while the price of gold has risen by 13%. Over 95% of the workshops have closed, and almost one-third of the shops are shuttered. Visitors to Acapulco should consider making a day trip to Taxco and Iguala to hunt for handmade jewelry bargains.