Online Reporter
Business Reporter
FOLLOWING the successful mop-up sale of gold coins, the Reserves Bank of Zimbabwe (RBZ) has announced the suspension of the exercise with immediate effect.
In a statement today, RBZ governor Dr John Mushayavanhu cleared the air on the trading in the precious metal coins, clarifying that the latest sale cleared the stock remainder.
“The Reserve Bank of Zimbabwe wishes to advise the transacting public that the mop-up sale of gold coins has been suspended, with immediate effect, following the successful completion of the exercise.
“The Reserve Bank of Zimbabwe would like to clarify that this was a sale meant to clear the remaining stock and not the minting of new gold coins which has been suspended in April 2004. The latest round of gold coin sales also included coins redeemed by holders,” said Dr Mushayavanhu.
Dr Mushayavanhu added that gold coins in the market can still be traded and redeemed.
“The Reserve Bank of Zimbabwe 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.
He said the apex bank remains committed to achieving its monetary policy objectives.
“The Reserve Bank of Zimbabwe would like to take this opportunity to reaffirm its commitment to continuously avail alternative financial market instruments to promote savings, as well as achieve its monetary policy objectives,” said Dr Mushayavanhu.
