Fidelity Gold Refinery Announces Gold Buying Prices For Friday 13 January 2023

Fidelity Gold Refinery (FGR), the sole buyer, refiner and exporter of the precious metal, has announced the official gold buying prices for Friday 13 January 2023.

Pindula News presents the prices below:

1). SG 90% and above US$56.01/g

2). SG above 85% but below 90% US$55.13/g

3). SG above 80% but below 85% US$54.54/g 4). SG above 75% but below 80% US$53.95/g

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5). Sample below 10g but above 5g US$53.06/g

6). Fire Assay Cash US$56.01/g

NB: Fire Assay cash price is for gold above 100gs and no sample is deducted.

i). For the Fire Assay Transfer price, a sample of not more than 10g is deducted.

ii). A 2% royalty is charged on all deposits (Small-scale Miners).

iii). A 5% royalty is charged to Primary Producers.

Fidelity Printers and Refiners prices will be changing in relation to world market prices.

Meanwhile, Fidelity Gold Refiners chief executive officer Peter Magaramombe said incentives to miners are paying off to such an extent that the viability of the sector hinges on sustaining the incentives to unlock more value.

The incentives were introduced to curb the leakage and smuggling of gold.

Zimbabwe Artisanal and Small Scale for Sustainable Mining Council president, Mr Wellington Takavarasha said,

It is all about the attractive prices that have positioned the industry in its growth path with the artisanal miners being impressed by the attractive prices.

The Reserve Bank of Zimbabwe ranks the gold mining industry as number one in generating foreign currency.

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