Gold prices shot up to $3,167.84 per ounce Thursday after Donald Trump set new taxes on goods from many countries. When world trade feels shaky, many people rush to buy gold as a safe place for money. The price has jumped more than 19% since January. Zimbabwe sells lots of gold, making this price rise very good news for their country.
The first two months of 2025 brought Zimbabwe $240.1 million from gold sales. Last year, during those same months, they made $221 million. Gold brings more money to Zimbabwe than any other product they sell to other lands. Deputy Mining Minister Polite Kambamura told The Sunday Mail that higher prices mean more cash comes in even when they dig up the same amount of metal as before.
Zimbabwe plans to dig up even more gold than usual. The government talks with mining companies about making bigger mines. Most companies skipped low-grade rocks because they held less gold. But the high prices make even these poor-quality rocks worth digging up. The country wants to grab this chance before gold prices might fall again.
Mr. Persistence Gwanyanya is an expert on money matters. He thinks these high gold prices will help make Zimbabwe stronger. Their new money, Zimbabwe Gold, should stay steady because real gold backs it up. When a country sells more things to other places, its money becomes worth more. This helps every person who lives there buy food and pay bills much more easily.
The United States started this chain of events by raising taxes on products coming into America. Other countries might answer back with their taxes. This kind of trade fight makes business people worried about what happens next. During times like these, gold always becomes more valuable. All this helps Zimbabwe earn extra cash from each piece of gold they sell to buyers around the world.
The first two months of 2025 brought Zimbabwe $240.1 million from gold sales. Last year, during those same months, they made $221 million. Gold brings more money to Zimbabwe than any other product they sell to other lands. Deputy Mining Minister Polite Kambamura told The Sunday Mail that higher prices mean more cash comes in even when they dig up the same amount of metal as before.
Zimbabwe plans to dig up even more gold than usual. The government talks with mining companies about making bigger mines. Most companies skipped low-grade rocks because they held less gold. But the high prices make even these poor-quality rocks worth digging up. The country wants to grab this chance before gold prices might fall again.
Mr. Persistence Gwanyanya is an expert on money matters. He thinks these high gold prices will help make Zimbabwe stronger. Their new money, Zimbabwe Gold, should stay steady because real gold backs it up. When a country sells more things to other places, its money becomes worth more. This helps every person who lives there buy food and pay bills much more easily.
The United States started this chain of events by raising taxes on products coming into America. Other countries might answer back with their taxes. This kind of trade fight makes business people worried about what happens next. During times like these, gold always becomes more valuable. All this helps Zimbabwe earn extra cash from each piece of gold they sell to buyers around the world.
