The Reserve Bank of Zimbabwe (RBZ) has adjusted gold prices up in a move aimed at improving deliveries to the country’s sole gold buyer and exporter Fidelity Printers and Refiners (FPR).
The move has come after Zimbabwe Miners Federation (ZMF) led by its President Ms Henrietta Rushwaya held a meeting yesterday and today with the central bank and Fidelity advocating for price increases to near international prices.
In a statement, ZMF President said, “We would like to thank The Reserve Bank Governor and extend our sincere gratitude to our Listening Head of State. The ASM sector will increase gold production and deliveries to FPR will surge. Please be advised that FPR has cash for any bullion delivered daily”.
The news was received with jubilation with most encouraging ZMF to pressure the Ministry of Mines and Mining Development to speed up Mining Title issuance.
Today’s gold buying rates are as follows:-
- SG 90% AND ABOVE $58.17/g
- SG ABOVE 85% BUT BELOW 90% $57.25/g
- SG ABOVE 80% BUT BELOW 85% $56.64/g
- SG ABOVE 75% BUT BELOW 80% $56.03/g
- SAMPLE BELOW 10g BUT ABOVE 5g $54.82/g
It however is not clear if the rates are fixed.
This is a developing story