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Search results: price of gold
BREAKING: ZMF Response to the New Gold Trading Framework
The Zimbabwe Miners Federation would like to appreciate the recent review by FPR in the gold trading framework as announced through its Press Statement of 26 May 2020. The review provides for a flat price of...
Fine gold explained
What is fine gold and how do we make our gold fine? This was yesterday's biggest concern after the recent announcement by the Reserve Bank of Zimbabwe of the forex retention increase for gold submissions.The RBZ...
Fidelity forex retention adjustment, fine gold, miners speak out
THE Reserve Bank of Zimbabwe yesterday announced that forex retention for gold had been revised up from USD 55% and 45% rtgs to USD 70% to 30% rtgs. The Apex bank also revealed that Miners will...
Lock-down hinder the import of forex to buy gold
Zimbabwe's Apex Bank is failing to ship in enough foreign currency to pay for gold purchases, a miners' group says.Fidelity Printers & Refiners (FPR), the central bank unit which is the country's sole gold buyer, cannot...
Eight reasons why gold forex retention should be revised upwards
THE Reserve Bank of Zimbabwe (RBZ), through its February 2019 monetary policy statement, reduced the 70/30% gold retention threshold to 55/45% for all miners, a move which was, however, described by miners as unprogressive in many...
RioZim gold production slumps 41%
LISTED diversified mining concern, RioZim has recorded a 41 percent decline in gold production in the first quarter ended March 31, 2020, from its local operations on the back of erratic power supplies.In a trading update...
As a Potential Covid-19 Induced Recession Looms… Lets go for Gold!
Mining analysts are predicting a strong 2020 for Gold prices. An ostensible Covid-19 prompted global recession is set to result in investors exchanging cash deposits for physical gold as a haven against a likely depreciation of...
Blanket boosts gold production
CALEDONIA Mining Corp. registered a strong showing in the first quarter of its 2020 financial year as operating and market circumstances combined favourably – perhaps for the first in a long time for the company.The importation of...
Gold production to slump
GOLD production in the small-scale mining sector is projected to drop by 29% to 12 tonnes this year due to disruptions caused by COVID-19, an official has said.The sector, which accounts for more than 60% of...
Gold still has important role to play despite Covid-19
Global gold holdings are said to have held firm at 1 083.8 t in the first quarter of the year, marking a rise of 1% on the same period last year, according to the World Gold Council’s (WGC's) latest...
Gold likely to rise as global Coronavirus restrictions start to ease
Financial services company INTL FCStone Europe, the Middle East, Africa and Asia market analysis head Rhona O’Connell says the majority of precious metals have moved into uncertain territory, with future trends difficult to predict as Coronavirus disrupts international buying and selling...
ZELA urges Fidelity to buy gold in US$
The Zimbabwe Environmental Law Association has called for the elimination of gold trade distortions that have persisted during the Coronavirus lockdown, to improve revenue flows into the country’s coffers.ZELA released the second edition of its weekly...
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