The US is Colombia's top gold customer — and cartels know it

The value of gold reached record highs at the start of 2026.

Ty Snaden for Business Insider

• Gold's surge to $5,000 per ounce draws criminal groups in Colombia, reshaping illicit industries.
• Illegal gold mining in Colombia now surpasses cocaine in profit for organized crime networks.
• US demand for Colombian gold complicates efforts to combat illegal mining and money laundering.

As gold surpasses $5,000 per ounce, its record-setting rally is reshaping more than investment portfolios.