THE resilience of gold as a store of value prompted the Reserve Bank of Zimbabwe (RBZ) to introduce gold coins last month, a central bank official said yesterday. Azvinandava Saburi, director of financial markets at RBZ, told lawmakers from the Parliamentary Portfolio Committee on Mines and Mineral Development during a mining workshop in Kariba that … Read more
The Mosi-oa-Tunya gold coins, which were launched by the Reserve Bank of Zimbabwe (RBZ) on July 25, are an alternative investment option to US dollars, stocks and the real estate market, and they have the potential to stabilize the exchange. rate, including controlling inflation in the short and medium term, market watchers say. Gold has … Read more
DEMAND for Zimbabwe’s new gold coins has been overwhelming and banks have been inundated by their corporate and individual clients looking for a legal and sensible way to preserve value. The Reserve Bank of Zimbabwe introduced the coins a week ago to help protect businesses and individuals from the negative impact of declining cash values … Read more
ZIMBABWE’s central bank has seen overwhelming acceptance of the Mosi-oa-Tunya gold coin after local financial institutions, pension funds, insurance companies and individuals bought up most of the 2,000 coins, amid concerns that the new asset class could create arbitrage opportunities. With inflation soaring and the country’s currency in free fall, the monetary authorities are now … Read more
The Reserve Bank of Zimbabwe (RBZ) will launch the Mosi-oa-Tunya gold coins today and they will be sold in local currency, US dollars and other foreign currencies. Its price is based on the prevailing international gold price plus five percent to cover the cost of producing and distributing the coin on a cash-on-delivery basis. Individual … Read more
ONE of Zimbabwe’s leading asset managers, Zimnat Asset Management (Zimnat), has pointed out that the country’s gold coin scheme is elitist and cannot present significant opportunities for arbitrage speculation in the market. The gold coins to be denominated Mosi-Oa-Tunya will be unveiled on the market on July 25. In a statement, Zimnat warned that self-custody … Read more
The Reserve Bank of Zimbabwe (RBZ) says its planned gold coins, to be introduced as an alternative investment option and inflation hedge on July 25, will be traded in both Zimbabwean dollars and foreign currency. RBZ Governor Dr John Mangudya said in an interview this week that the gold coins, to be called Mosi or … Read more
The GOLD coins that were announced last week as a new measure and alternative to store monetary value, will be introduced to the market in the middle of this month and will be bought in both local and foreign currency. In addition, the coins will be redeemable locally and outside the country, as the authorities … Read more
In fact, it is in times of crisis and upheaval that the creativity of nations emerges and, in my opinion, the idea of launching gold coins by the Reserve Bank of Zimbabwe (RBZ) is a coup that, if implemented correctly, it could create a popular alternative. asset class for institutional and individual investors looking to … Read more