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The Reserve Bank of Zimbabwe (RBZ) has released the Mosi-Oa-Tunya gold coin price and gold-backed digital token price per milligram (MG) as of 07 August 2023. In a statement seen by Pindula News, RBZ said the prices are determined by the previous day’s gold PM fix and were announced by the central bank. Were present the Mosi-Oa-Tunya gold prices below:
<ul>
<li>
<h4>USD:</h4>
<ul>
<li>1.00 Oz: 2,039.57</li>
<li>0.50 Oz: 1,019.79</li>
<li>0.25 Oz: 509.89</li>
<li>0.10 Oz: 203.96</li>
</ul>
</li>
<li>
<h4>ZAR:</h4>
<ul>
<li>1.00 Oz: 37,731.68</li>
<li>0.50 Oz: 18,865.84</li>
<li>0.25 Oz: 9,432.92</li>
<li>0.10 Oz: 3,773.17</li>
</ul>
</li>
<li>
<h4>BWP:</h4>
<ul>
<li>1.00 Oz: 27,340.11</li>
<li>0.50 Oz: 13,670.06</li>
<li>0.25 Oz: 6,835.03</li>
<li>0.10 Oz: 2,734.01</li>
</ul>
</li>
<li>
<h4>AUD:</h4>
<ul>
<li>1.00 Oz: 3,104.37</li>
<li>0.50 Oz: 1,552.19</li>
<li>0.25 Oz: 776.09</li>
<li>0.10 Oz: 310.44</li>
</ul>
</li>
<li>
<h4>GBP:</h4>
<ul>
<li>1.00 Oz: 1,602.30</li>
<li>0.50 Oz: 801.15</li>
<li>0.25 Oz: 400.58</li>
<li>0.10 Oz: 160.23</li>
</ul>
</li>
<li>
<h4>EUR:</h4>
<ul>
<li>1.00 Oz: 1,855.68</li>
<li>0.50 Oz: 927.84</li>
<li>0.25 Oz: 463.92</li>
<li>0.10 Oz: 185.57</li>
</ul>
</li>
<li>
<h4>ZWD:</h4>
<ul>
<li>1.00 Oz: 10,213,934.15</li>
<li>0.50 Oz: 5,106,967.07</li>
<li>0.25 Oz: 2,553,483.54</li>
<li>0.10 Oz: 1,021,393.41</li>
</ul>
</li>
</ul>
<h4>Gold-backed digital token prices per milligram.</h4>
<ul>
<li>
USD: 0.0656
</li>
</ul>
<ul>
<li>
ZWD: 328.39
</li>
</ul>
<h3>More Pindula News</h3>

Pindula News

RBZ Released Gold Prices In USD, ZAR, BWP, AUD, GBP, EUR, ZWD: 07 Aug 2023

The Reserve Bank of Zimbabwe (RBZ) has released the MOSI-OA-TUNYA gold coin price and gold-backed digital token price per milligram (MG) as of 21 June 2023. In a statement seen by Pindula News, RBZ said the prices are determined by the previous day’s gold PM fix and were announced by the central bank. Were present the prices below:
One Ounce (1.00Oz)
USD2,026.97 
ZAR37,299.74 
BWP27,098.56 
AUD2,986.99 
GBP1,588.79 
EUR1,857.90 
ZWD15,443,977.87
Half of an Ounce (0.50Oz)
USD1,013.49 
ZAR18,649.87 
BWP13,549.28 
AUD1,493.50 
GBP794.39 
EUR928.95 
ZWD7,721,988.94
Quarter of an Ounce (0.25Oz)
USD506.74 
ZAR9,324.93 
BWP6,774.64 
AUD746.75 
GBP397.20 
EUR464.48 
ZWD3,860,994.47
Tenth of an Ounce (0.10Oz)
USD202.70 
ZAR3,729.97 
BWP2,709.86 
AUD298.70 
GBP158.88 
EUR185.79 
ZWD1,544,397.79
GOLD-BACKED DIGITAL TOKEN PRICE PER MILLIGRAM (MG)
USD 0.0652
ZWD 496.53
<h3><a href="https://www.pindula.co.zw/">More Pindula News</a></h3>

RBZ Releases Gold Coin And Digital Token Prices For 21 June

The Reserve Bank of Zimbabwe (RBZ) published the prices of the Mosi Oa Tunya Gold Coin and the Gold-backed Digital Token as of 15 June 2023.
The values provided represent the prices in different currencies US dollars, South African Rand, Botswana pula, British pounds, Australian dollars, Euros and Zimbabwean dollars.
One Ounce was being sold as follows:
<div class="in_article">
<ul>
<li>US$2,053.59</li>
<li>ZAR37,765.73</li>
<li>BWP27,344.74</li>
<li>AUD3,012.01</li>
<li>GBP1,623.39</li>
<li>UER 1,898.31</li>
<li>ZWL14,739,149.31</li>
</ul>
Half of an Ounce was sold as follows:
<ul>
<li>US$1,026.80</li>
<li>ZAR18,882.86</li>
<li>BWP13,672.37</li>
<li>AUD1,506.01</li>
<li>GBP811.70</li>
<li>EUR949.15</li>
<li>ZWL7,369,574.66</li>
</ul>
A quarter of an Ounce was sold as follows:
<ul>
<li>US$513.40</li>
<li>ZAR9,441.43</li>
<li>BWP6,836.19</li>
<li>AUD753.00</li>
<li>GBP405.85</li>
<li>EUR474.58</li>
<li>ZWL3,684,787.33</li>
</ul>
A tenth of an Ounce was sold as follows:
<ul>
<li>US$205.36</li>
<li>ZAR3,776.57</li>
<li>BWP2,734.47</li>
<li>AUD301.20</li>
<li>GBP162.34</li>
<li>EUR189.83</li>
<li>ZWL1,473,914.93</li>
</ul>
GOLD-BACKED DIGITAL TOKEN PRICE PER MILLIGRAM (MG)
<ul>
<li>US$0.0660</li>
<li>ZWL473.87</li>
</ul>
</div>

<ul>
<li><a href="https://www.pindula.co.zw/2023/05/24/rbz-releases-gold-backed-token-and-mosi-oa-tunya-coin-prices-24-may-2023/">RBZ Releases Gold-backed Token And Mosi Oa Tunya Coin Prices – 24 May 2023</a></li>
</ul>
<h3><a href="https://www.pindula.co.zw/">More Pindula News</a></h3>

RBZ Releases Gold-backed Token And Mosi Oa Tunya Coin Prices - 15 June 2023

The Reserve Bank of Zimbabwe (RBZ) published the prices of the Mosi Oa Tunya Gold Coin and the Gold-backed Digital Token as of 24 May 2023.
The values provided represent the prices in different currencies US dollars, South African Rand, Botswana pula, British pounds, Australian dollars, Euros and Zimbabwean dollars.
One Ounce was being sold as follows:
<ul>
<li>US$2,067.66</li>
<li>ZAR39,695.97</li>
<li>BWP28,324.11</li>
<li>AUD3,135.67</li>
<li>GBP1,663.31</li>
<li>UER 1,918.05</li>
<li>ZWL4,684,520.02</li>
</ul>
Half of an Ounce was sold as follows:
<ul>
<li>US$1,033.83</li>
<li>ZAR19,847.99</li>
<li>BWP14,162.05</li>
<li>AUD1,567.83</li>
<li>GBP831.65</li>
<li>EUR959.03</li>
<li>ZWL2,342,260.01</li>
</ul>
A quarter of an Ounce was sold as follows:
<ul>
<li>US$516.92</li>
<li>ZAR9,923.99</li>
<li>BWP7,081.03</li>
<li>AUD783.92</li>
<li>GBP415.83</li>
<li>EUR479.51</li>
<li>ZWL1,171,130.01</li>
</ul>
A tenth of an Ounce was sold as follows:
<ul>
<li>US$206.77</li>
<li>ZAR3,969.60</li>
<li>BWP2,832.41</li>
<li>AUD313.57</li>
<li>GBP166.33</li>
<li>EUR191.81</li>
<li>ZWL468,452.00</li>
</ul>
GOLD-BACKED DIGITAL TOKEN PRICE PER MILLIGRAM (MG)
<ul>
<li>US$0.0665</li>
<li>ZWL150.61</li>
</ul>

<ol>
<li><a href="https://www.pindula.co.zw/2023/05/08/buying-rbzs-gold-backed-digital-tokens-here-is-what-you-need-to-know/">Buying Gold-backed Digital Tokens: Here Is What You Need To Know</a> </li>
<li><a href="https://www.pindula.co.zw/2023/05/11/rbz-releases-mosi-oa-tunya-gold-backed-digital-token-and-coin-prices/">RBZ Releases Gold-backed Tokens And Mosi Oa Tunya Coin Prices – 10 May 2023</a></li>
<li><a href="https://www.pindula.co.zw/2023/05/17/rbz-releases-gold-backed-token-and-mosi-oa-tunya-coin-prices-17-may-2023/">RBZ Releases Gold-backed Token And Mosi Oa Tunya Coin Prices – 17 May 2023</a></li>
<li><a href="https://www.pindula.co.zw/2023/05/22/rbz-releases-gold-backed-token-and-mosi-oa-tunya-coin-prices-22-may-2023/">RBZ Releases Gold-backed Token And Mosi Oa Tunya Coin Prices – 22 May 2023</a></li>
<li><a href="https://www.pindula.co.zw/2023/05/23/rbz-releases-gold-backed-token-and-mosi-oa-tunya-coin-prices-23-may-2023/">RBZ Releases Gold-backed Token And Mosi Oa Tunya Coin Prices – 23 May 2023</a></li>
</ol>
<h2><a href="https://www.pindula.co.zw/">More Pindula News</a></h2>

RBZ Releases Gold-backed Token And Mosi Oa Tunya Coin Prices - 24 May 2023

The <a href="https://wiki.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> plans to introduce a <a href="https://www.pindula.co.zw/2023/04/24/rbz-introducing-new-currency-backed-by-gold-tokens">gold-backed digital currency</a>, but there are concerns that it may be a scam to deceive people. The governor of the RBZ, <a href="https://www.pindula.co.zw/John_Mangudya">John Mangudya</a>, stated that the currency would be launched in <a href="https://zero.pindula.co.zw/rbz-to-introduce-gold-backed-digital-tokens-on-8-may/">two phases starting on May 8, 2023</a>, and would be used for payment and as a store of value. However, the announcement has divided public opinion.
<a href="https://www.pindula.co.zw/Walter_Mzembi">Walter Mzembi</a>, a former Minister of Tourism and Hospitality, believes “this is the way to go!” In a Twitter post seen by Pindula News, the self-exiled former minister said:
<blockquote>
 May not make sense to many now but anything currency must begin to be anchored by our precious minerals, mined and stored and proven reserves. The return of the Gold Standard is imminent only this time it will be digital… If you follow the debate in the #BRICS even our own #AfCFTA you will understand where things are going globally.
</blockquote>
Zimbabwean politician <a href="https://www.pindula.co.zw/Zvaringeni_Samuel_Chasi">Zvaringeni Samuel Chasi</a>, leader of the opposition People’s Patriotic Party, however, thinks that the RBZ intends to scam people by introducing a gold-backed digital currency. He said:
<blockquote>
Introduction of Crypto Currency by #RBZ is a #PonziScheme and Fraudulent. Individuals, Pensioners, Companies, Investors, etc are being owed #Trillions diverted for personal use over past decades with no single arrest or compensation. Citizens are open to rather Trade on.
</blockquote>
Simon Musvosve also expressed similar concerns, calling for the stabilization of the local currency instead. He added that people’s trust in digital currencies is decreasing due to too much risk involved. He said:
<blockquote>
Give us the old, real, crispy dollar note-remember the ones Governors Moyana &amp; Tsumba signed- not ravaged by inflation. Otherwise, USD ngoma ndiyo-ndiyo. Simon Musvosve @Musvosve – I keep abreast with new developments. Without going into the geopolitics, I don’t think this will be a panacea for Zim’s currency woes. Our people need workable solutions now. The rest are lofty dreams.
</blockquote>
Economic blogger, Tinashe, Twitter handle Baba_nyenyedzi has also expressed worry about the RBZ’s plan, calling it a crazy move. In a Twitter post seen by Pindula News, he said:
<blockquote>
Gold-backed digital currency. The RBZ is again off the tracks with another crazy idea. If RBZ believes in backing currency with gold why not back their own issued currency ZWL with gold The PMR rate is now 1800 double the Jan rate in four months. Inflation spiralling out of control. Yet RBZ has “gold reserves” to back a digital currency. They should back ZWL with gold and the rate ( including inflation) will stabilize. Surely it’s simple enough.
</blockquote>
The gold-backed digital tokens will be issued in two phases. In phase one, the tokens will be available for investment and will have a vesting period of 180 days. They will be redeemable in the same way as existing physical gold coins and can be purchased through banks using both foreign currency and the Zimbabwe dollar. Banks will create dedicated accounts for holding the tokens. Physical gold coin holders can exchange them for digital tokens through the banking system.
In phase two, the tokens will be tradable and used for Person-to-Person (P2P) and Person-to-Business (P2B) transactions and settlements. The pricing of the tokens in a foreign currency will be the same as the physical gold coins, based on the international gold price determined by the London Bullion Market Association (LBMA) PM fix.
<h2><a href="https://zero.pindula.co.zw/">More Pindula News</a></h2>

RBZ Gold-backed Digital Currency A Scam - Opposition Leader

Former Finance Minister <a href="https://www.pindula.co.zw/Tendai_Biti">Tendai Biti</a> has said the Reserve Bank of Zimbabwe (RBZ)’s <a href="https://zero.pindula.co.zw/rbz-mpc-member-says-mosi-oa-tunya-gold-coins-results-have-been-exceptional/">Mosi-oa-Tunya Gold Coins</a> are a new form of arbitrage and looting from the public to enrich cartels. 
He claims that the central bank bought gold coins for about US$18 million and sold them for about US$10 million using a discount rate of about 300% which is below the market rate creating an arbitrage.
Arbitrage is the simultaneous purchase and sale of an asset in different markets to exploit tiny differences in their prices. We present Biti’s Twitter thread below:
<blockquote>
The auction system continues to be vehicle of arbitrage&amp;rent behaviour. Rigged rate of 1:621 still lags behind market rate of 1:750. There is no answer except corruption as to why there is no free float of ZW$ Significantly allocations are decreasing to US$11m from highs of $50 m
The obvious deceleration of activity on the auction is explained by the increased energy in gold coins production. Gold coins are new form of arbitrage &amp; looting. A bank heist serving to transfer resources from public coffers to cartels. As of 22 Sept 9516 coins sold for ZWL$9 b
Gold coins are being sold in local currency at a discounted rate that is 300% below market thus creating arbitrage This explains why 95 % of purchases are in ZWL$. The @ReserveBankZIM has spend roughly US$ 18m in buying 9516 coins which it has sold at around US$10m. This is THEFT.
For a country without any reserves to back its currency&amp;current account gold coins are zany The suggestion that they are containing inflation is also fiction. Official inflation figures remain above 280%. We restate that this economy needs genuine structural reforms not mascara
We restate that the solutions are simple, dollarize, float the ZW$, remove export surrender requirements, pay workers US$, restore pensions, deal with corruption, pursue fiscal consolidation. Fund social services. Above all attend to POLITICAL REFORMS &amp; allow a free&amp;fair election. 
</blockquote>
The gold coins were introduced on the 25 of July 2022 with multi-dimensional objectives, including clearing excess liquidity which was considered a factor behind the freefall of the local currency.
<h2><a href="https://zero.pindula.co.zw/">Pindula News</a></h2>

Biti Says RBZ Bought Gold Coins For US$18m, Sold Them At US$10m

The International Monetary Fund (IMF) has said the Zimbabwean gold coins are a missed chance to build the nation’s gold reserves.
The Reserve Bank of Zimbabwe (RBZ) introduced the Mosi-oa-Tunya gold coins on 25 July this year in a bid to curb stabilise the economy and the local currency that was fast shedding value against the United States dollar.
In an emailed response to <a href="https://www.bloomberg.com/news/articles/2022-09-22/imf-says-gold-coins-a-missed-chance-to-build-zimbabwe-reserves">Bloomberg</a> questions, an IMF spokesperson said:
<blockquote>
The sale of gold coins has contributed to withdrawing Zimbabwe dollar liquidity from the market, though it represents an opportunity cost in terms of foregone reserves for the Reserve Bank of Zimbabwe.
</blockquote>
The central bank plans to sell smaller denominations of the Mosi-oa-Tunya gold coins, named after Victoria Falls, from November. 
The smallest, a tenth of an ounce, will be made available to the public through banks and approved dealers. A regular-size one is selling for $1 755, according to data available Thursday on the central bank’s website.
The government credits the coins for halting the decline in the parallel market rate for the Zimbabwe dollar. That’s allowed it to converge with the official rate, which has plunged more than 80% against the US currency this year.
Gold output in the southern African nation surged 41% in the first eight months of the year to 22,290 kilograms from a year earlier. The country aims to produce 35 tons of bullion in 2022.
<h2><a href="https://zero.pindula.co.zw/">Pindula News</a></h2>

IMF Says Gold Coins Are A Missed Chance To Build Zimbabwe's Gold Reserves

Courage Masona, an economist and lecturer at the <a href="https://www.pindula.co.zw/Zimbabwe_Ezekiel_Guti_University">Zimbabwe Ezekiel Guti University (ZEGU)</a> has said that the recently-introduced Mosi-oa-Tunya gold coins curb the runaway inflation in Zimbabwe if certain conditions are met. 
He speaks as analysts are contradicting each on the subject matter. Below are the conditions he highlighted in an article posted in the Opinion column of <a href="https://thestandard.newsday.co.zw/2022/08/14/new-perspectives-gold-coins-alone-will-not-tame-zims-inflation/">The Standard</a> that was published this Sunday:
<blockquote>
i). there is a certain level of creativity required at the apex bank, to close every arbitrage opportunity.
ii). the gold coins must be convenient to use and very liquid as well. They must not just perform the store of value function of a currency but also work as a medium of exchange.
iii) the governor faces a formidable task each day to try and manage the money supply, at a time when elections are fast approaching. It is during this time that economies experience political business cycles. A restrictive monetary policy is always desirable in an economy with too much liquidity.
iv). there is a need to boost public confidence and trust in the economy if gold coins are to succeed.
</blockquote>
Zimbabwe introduced the coins on 25 July in a bid to stabilise the economy by easing demand for US dollars and storing the value of money after the Zimbabwe dollar lost more than two-thirds of its value against the USD this year.
In the first week, RBZ sold 1 500 gold coins during the first week of their release into the market.
Internationally, gold coins are used in countries such as China, America, Canada and Australia among others.
These other countries, however, unlike Zimbabwe, have relatively stable macroeconomic environments.
Masona also said it is difficult for one to predict the outcomes of a policy with precision hence the need for fellow economists to resist the “pretence of exact knowledge” in economic analysis.
He added that no economics model would ever render fully intelligible the causes of market outcomes or the consequences of government policies.
<h2><a href="https://news.pindula.co.zw/">Pindula News</a></h2>

ZEGU Economics Lecturer Lists Conditions For Gold Coins To Stabilise The Economy

The Reserve Bank of Zimbabwe (RBZ) this Monday, 25 July 2022 introduced the Mosi-oa-Tunya gold coins as a measure to stabilise the economy. The coins will be sold in local currency, US$ and other foreign currencies.
The central bank said their price is based on the prevailing international price of gold plus five per cent to cover the cost of production and distribution of the coin on a payment versus delivery basis. See the prices below:
<blockquote>
<table class="table table-bordered table-hover" id="table_1" style="width: 82.9899%;">
<tbody>
<tr>
<td style="width: 20.8543%;" title="Character Accurarcy=99.57">CURRENCY</td>
<td style="width: 27.1357%; text-align: center;" title="Character Accurarcy=99.86">SELLING PRICE</td>
<td style="width: 143.552%; text-align: center;" title="Character Accurarcy=99.66">DEDUCTABLE AGENCY FEES</td>
</tr>
<tr>
<td style="width: 20.8543%;" title="Character Accurarcy=99.94">USD</td>
<td style="width: 27.1357%; text-align: center;" title="Character Accurarcy=99.67">1,823.80</td>
<td style="width: 143.552%; text-align: center;" title="Character Accurarcy=99.96">10.00</td>
</tr>
<tr>
<td style="width: 20.8543%;" title="Character Accurarcy=99.77">ZAR</td>
<td style="width: 27.1357%; text-align: center;" title="Character Accurarcy=99.86">30,753.60</td>
<td style="width: 143.552%; text-align: center;" title="Character Accurarcy=99.95">168.62</td>
</tr>
<tr>
<td style="width: 20.8543%;" title="Character Accurarcy=99.78">BWP</td>
<td style="width: 27.1357%; text-align: center;" title="Character Accurarcy=99.59">23,115.30</td>
<td style="width: 143.552%; text-align: center;" title="Character Accurarcy=99.72">126.74</td>
</tr>
<tr>
<td style="width: 20.8543%;" title="Character Accurarcy=99.91">AUD</td>
<td style="width: 27.1357%; text-align: center;" title="Character Accurarcy=99.85">2,640.51</td>
<td style="width: 143.552%; text-align: center;" title="Character Accurarcy=99.84">14.48</td>
</tr>
<tr>
<td style="width: 20.8543%;" title="Character Accurarcy=99.91">GBP</td>
<td style="width: 27.1357%; text-align: center;" title="Character Accurarcy=99.89">1,523.89</td>
<td style="width: 143.552%; text-align: center;" title="Character Accurarcy=99.85">8.36</td>
</tr>
<tr>
<td style="width: 20.8543%;" title="Character Accurarcy=99.95">EUR</td>
<td style="width: 27.1357%; text-align: center;" title="Character Accurarcy=99.86">1,788.39</td>
<td style="width: 143.552%; text-align: center;" title="Character Accurarcy=99.89">9.81</td>
</tr>
<tr>
<td style="width: 20.8543%;" title="Character Accurarcy=99.27">ZWL</td>
<td style="width: 27.1357%; text-align: center;" title="Character Accurarcy=99.8">805,745.35</td>
<td style="width: 143.552%; text-align: center;" title="Character Accurarcy=99.89">4,417.95</td>
</tr>
</tbody>
</table>
</blockquote>
<h2>Pindula News</h2>

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