Categories: Zim Latest

Gold Coin and Gold-backed Digital Token Prices – 12 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 as opposed to 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.

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