Categories: Zim Latest

Gold Coin and Gold-backed Digital Token Prices – 07 February 2024

The Reserve Bank of Zimbabwe -RBZ- has released the latest prices for gold coins and digital tokens.

Backed by a certain amount of gold, which helps keep its value stable, this currency is tied to the market value of the gold – unlike a fiat currency.

The Zimbabwe gold-backed digital currency is used as legal tender and a store of value alongside the Zimbabwean dollar and bond notes.

Users can buy and sell it using Zimbabwean dollars and other foreign currencies.

Ideally, backing a digital currency with gold involves having a certain measure of gold reserves and depends on the current market value of gold.

Zwnews

Share

Recent Posts

Apply for licence like any other companies, gvt tells Starlink

The government through the Postal & Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) has implored network… Read More

25th February 2024

Zim Teen Trey Nyoni(16) on the Bench as Liverpool Face Chelsea in Carabao Cup Final at Wembley

As Chelsea gear up to challenge Liverpool for the Carabao Cup at Wembley, manager Mauricio… Read More

25th February 2024

Musona’s Magic Video: Former Zim Warriors Winger Scores Stunning Free-Kick for Al-Riyadh in the Saudi Pro League

Former Zimbabwe Warriors winger, Knowledge Musona, showcased his skill and precision on the field in… Read More

25th February 2024

UK: Zimbabwean Man(26) Fatally Stabbed in South Yorkshire

The tight-knit community of South Yorkshire is reeling from the loss of Lazarus Makono, a… Read More

25th February 2024

Madzibaba VeShanduko Turns Down Wicknell Chivayo Car Offer

Attempts by businessman Wicknell Chivayo’s agent, “Victor “, to buy Madzibaba VeShanduko, his real name… Read More

25th February 2024

Man Caught Red-Handed Lula Lula With Donkey in Mvurwi

Residents of Mvurwi were left in shock by a disturbing incident involving a man caught… Read More

25th February 2024