- August 15, 2019
- Posted in LOCAL
Goldman Sachs group has predicted that, gold prices will hit $1. 575 in 3 months and $1. 600 in 6 months from $1.500 per ounce. According to Norton legislator Hon Temba Mliswa, the government needs to liberalise, support urgent exploration as well as to capitalise in order to gear up the sector towards future competition.
Rudairo Dickson Mapuranga
According to Goldman Sachs Group, the gold prices are set to escalate since the US-China trade wars will eventually weaken the Yuan hence gold becomes the safety net.
Commenting on this development, Hon Mliswa said that the government needs to implement policies that support the sector and maximise productivity.
“As long as US/China Trade war goes on and Yuan weakens, gold becomes the safety net and we must implement policies that support the sector and maximise productivity ” said Temba Mliswa.
According to Mliswa, as long as artisanal miners are not formalised, delivery to Fidelity is going to be limited since they will be selling their gold on the black market.
Mliswa added on saying that, illegal gold miners should be arrested to sanitise the sector.
“For as long as illegal miners aren’t surrendering gold and aren’t formalised, we won’t reap the benefits of return”
“Syndicates that create leakages must be plugged. It’s about time these ring leaders were arrested” said Hon Mliswa.
Mliswa also encouraged Zimbabwe Miners Federation to advocate and work hard to curb gold leakages.