Online Reporter
Business Reporter
THE Reserve Bank of Zimbabwe (RBZ) says it has suspended the mop-up sale of gold coins with immediate effect, following the successful completion of the exercise.
The central bank had resumed selling gold coins in April this year to mop up stocks that it was still holding.
In a statement, RBZ Governor Dr John Mushayavanhu said the sale sought to clear remaining stock and not the minting of new gold coins, which had been suspended in April 2024.
He noted that the latest round of gold coin sales also included coins redeemed by holders.
“The Reserve Bank further advises that future gold coin sales will be undertaken upon accumulation of a sizeable quantity from redemptions. Investors are advised that gold coins in the market remain tradable and redeemable,” he said.
Further, the Governor reaffirmed its commitment to continuously avail alternative financial market instruments to promote savings, as well as achieve its monetary policy objectives.
The gold coins are selling at $3 397.60 as of today, up from $1 823 when they were introduced in July 2022.
