Staff Reporter

Economic Analysts have hailed the introduction of gold coins by the Reserve Bank of Zimbabwe (RBZ) saying it provides a reliable option of storing value.

Speaking to this publication, renowned Economic Analyst, Dr Prosper Chitambara, said that the gold coins will go a long way in the moderation of demand for the US Dollar.

“The expectation is that it provides an alternative store of value, which will help moderate the demand for the US dollar given the chronic high inflationary trends and developments, currently being experienced.

“The USD is liquid, so the gold coins make sense for investors, because investors are then able to diversify their investment portfolio.  It is an alternative investment asset as well to other investment options that we already have in the economy,” said Dr Chitambara.

Dr Chitamba added that the gold coins will also significantly contribute towards the microeconomic or price stability within the economy, something that will put a smile on many Zimbabweans.

Meanwhile, the Reserve Bank Governor, Dr John Mangudya, stated that the gold coins will be available for sale to the public on 25 July 2022, in the local currency, the US dollar and other foreign currencies at a price based on the prevailing international price of gold and the cost production.