Zimbabwe saw gold exports jump to $395.9 million in the first quarter this year, up from $303 million during the same time last year. The country earned $123.1 million in January, $117 million in February, and $155.8 million in March. Gold remains Zimbabwe's top foreign money maker, with the nation earning $1.5 billion from it last year. Gold prices hit a record high of $3,500.05 per ounce yesterday as investors sought safety amid concerns about President Trump's criticism of the Federal Reserve chair.
Gold deliveries reached 8,496.4 kilograms in the first quarter, showing a 40.6 percent rise compared to last year. Small-scale miners led the way with 5,770.85 kilograms, much more than the 2,725.55 kilograms from larger mining companies. These smaller operations have become the main drivers of Zimbabwe's gold output despite their less advanced methods. The government has helped small miners through better organization and support programs.
Old mines reopened as investments poured in, and existing mines increased production. Better pay for small-scale miners encouraged them to use official selling channels. Quick payments and strong gold prices helped boost overall output. Gold offers political neutrality, unlike bonds or currencies that change with political events or trade relationships. Experts believe global economic tensions and a weakening US dollar will keep gold prices high.
Gold deliveries reached 8,496.4 kilograms in the first quarter, showing a 40.6 percent rise compared to last year. Small-scale miners led the way with 5,770.85 kilograms, much more than the 2,725.55 kilograms from larger mining companies. These smaller operations have become the main drivers of Zimbabwe's gold output despite their less advanced methods. The government has helped small miners through better organization and support programs.
Old mines reopened as investments poured in, and existing mines increased production. Better pay for small-scale miners encouraged them to use official selling channels. Quick payments and strong gold prices helped boost overall output. Gold offers political neutrality, unlike bonds or currencies that change with political events or trade relationships. Experts believe global economic tensions and a weakening US dollar will keep gold prices high.
