You are here

Zimbabwe discovers its gold money may work; IMF wants it to stop

Section: Daily Dispatches

Zimbabwe's Gold Coins Sell Above $2,000 Each For The First Time

By Ray Ndlovu and Rene Vollgraaff
Bloomberg News
Monday, January 16, 2023

https://www.bloomberg.com/news/articles/2023-01-16/zimbabwe-s-gold-coins-sell-above-2-000-each-for-the-first-time

Zimbabwe's gold coins introduced in July are selling above $2,000 for the first time.

The "Mosi-oa-Tunya" gold coin, named after Victoria Falls, a key tourism site that straddles the border between Zimbabwe and Zambia, were priced at $2,002.51 for a 1-ounce coin today, according to data on the Reserve Bank of Zimbabwe's website. 

Spot gold was at $1,914.21 an ounce at 2:45 p.m. in London.

... Dispatch continues below ...


... ADVERTISEMENT ...

Storage and Withdrawal of Gold 
with Bullion Star in Singapore

Bullion Star is a Singapore-registered company with a one-stop bullion shop, showroom, and vault at 45 New Bridge Road in Singapore.

Bullion Star's solution for storing bullion in Singapore is called My Vault Storage.

With My Vault Storage you can store bullion in Bullion Star's bullion vault, which is integrated with Bullion Star's shop and showroom, making it a convenient one-stop shop for precious metals in Singapore.

Customers can buy, store, sell, or request physical withdrawal of their bullion through My Vault Storage online around the clock. Storage rates are competitive. 

For more information, please visit Bullion Star here:

https://www.bullionstar.com/


The central bank introduced the gold coins to halt a collapse of the Zimbabwean dollar and to help ease demand for U.S. dollars. Smaller units were brought into circulation in November.

The International Monetary Fund urged authorities last month to wind down the use of the gold coins and to use appropriate interest-bearing instruments to carry out monetary policy.

* * *

Toast to a free gold market 
with great GATA-label wine

Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.

Here's what the bottles look like:

http://www.gata.org/files/GATA-4-wine-bottles.jpg

Buyers can compose their case by choosing as many as four varietals from the list here:

http://www.gata.org/files/FayJWineryVarietals.jpg

GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?

To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.

* * *

Support GATA by purchasing
Stuart Englert's "Rigged"

"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --

https://tinyurl.com/3xt6uw66

-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.

* * *

Help keep GATA going:

GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:

http://www.gata.org

To contribute to GATA, please visit:

http://www.gata.org/node/16