At the end of July, the Central Bank of Zimbabwe announced the debut of its Mosi-oa-Tunya gold coin. In this way, central bankers and politicians want to protect their citizens from rampant inflation. After all, only when demonetization is not a problem for investors can a savings culture be established. Saving is then once again the basis for prosperity and later consumption. It will be interesting to see how this kind of saving will be received by the citizens of Zimbabwe. In any case, the coin looks very nice.
Mosi-ao-Tunya means "Thundering Smoke" and probably stands for the Victoria Falls, which are located in the Mosi-ao-Tunya National Park, which is in Zambia but on the border with Zimbabwe. These are also depicted on the coin. The weight is 33.93 grams, and the purity is 22 carats (91.67%), which is exactly one ounce of pure gold. The price of the gold coin is the price of gold on the day of purchase for one ounce plus five percent minting and handling fees and can be settled in U.S. dollars or Zimbabwe dollars.
"At the discretion of the gold coin holder, the bank or its agents will buy back the gold coins after a lock-up period of 180 days to promote a savings culture in the country," the Reserve Bank of Zimbabwe writes on its website. Investors can get the sale price back in U.S. dollars or Zimbabwe dollars. This Zimbabwean example shows that gold continues to be highly respected when it comes to wealth protection and a savings culture. Gold, after all, belongs in a balanced portfolio. In addition to a basic component of physical gold, investors can also consider the shares of gold companies. Caledonia Mining seems to be particularly topical at the moment.
Caledonia digs gold out of the ground in Zimbabwe. The company successfully operates gold production at the Blanket gold mine. Caledonia Mining – https://www.youtube.com/watch?v=zvnfOE-2hXU – has just bought Bilboes Gold, thus adding the high-grade Bilboes Gold Project in Zimbabwe.
Another example of a promising gold company that is already producing is OceanaGold – https://www.youtube.com/watch?v=ywsYsMG5sRc -. Its portfolio includes the Didipio mine in the Philippines, the Waihi and Macraes properties in New Zealand, and the Haile Gold Mine in the USA.
Current corporate information and press releases from Caledonia Mining (- https://www.resource-capital.ch/en/companies/caledonia-mining-corp/ -) and OceanaGold (- https://www.resource-capital.ch/en/companies/oceanagold-corp/ -).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
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