Gold prices hit record high US$110/g, miners rejoice

Zimbabwe’s gold miners are over the moon as prices hit record highs on 9 September 2025, mining sector data has shown.

Fidelity Gold Refinery (FGR) pegged today’s top rate at US$110.36 per gram (US$3,431.66/oz) for gold of 90% purity and above, up from yesterday’s US$109.21/g.

Other grades also recorded gains, with Fire Assay cash price rising to US$110.95/g (US$3,449.08/oz).

Small-scale miners, who supply most of Zimbabwe’s gold, to Fidelity Printers received the news with open arms.

“Every dollar makes a big difference… at least now we feel the effort is paying off,” Zimbabwe Economic Review quoted one Kwekwe producer as saying.

With the threshold now firmly above US$110/g, analysts expect stronger official deliveries, higher foreign currency inflows, and a brighter outlook for Zimbabwe’s gold sector.

Gold is one of the country’s major foreign currency earners.