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The Reserve Bank of Zimbabwe (RBZ) has released the MOSI-OA-TUNYA gold coin price and gold-backed digital token price per milligram (MG) as of 21 June 2023. In a statement seen by Pindula News, RBZ said the prices are determined by the previous day’s gold PM fix and were announced by the central bank. Were present the prices below:
One Ounce (1.00Oz)
USD2,026.97 
ZAR37,299.74 
BWP27,098.56 
AUD2,986.99 
GBP1,588.79 
EUR1,857.90 
ZWD15,443,977.87
Half of an Ounce (0.50Oz)
USD1,013.49 
ZAR18,649.87 
BWP13,549.28 
AUD1,493.50 
GBP794.39 
EUR928.95 
ZWD7,721,988.94
Quarter of an Ounce (0.25Oz)
USD506.74 
ZAR9,324.93 
BWP6,774.64 
AUD746.75 
GBP397.20 
EUR464.48 
ZWD3,860,994.47
Tenth of an Ounce (0.10Oz)
USD202.70 
ZAR3,729.97 
BWP2,709.86 
AUD298.70 
GBP158.88 
EUR185.79 
ZWD1,544,397.79
GOLD-BACKED DIGITAL TOKEN PRICE PER MILLIGRAM (MG)
USD 0.0652
ZWD 496.53
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Pindula News

RBZ Releases Gold Coin And Digital Token Prices For 21 June

The Reserve Bank of Zimbabwe (RBZ) published the prices of the Mosi Oa Tunya Gold Coin and the Gold-backed Digital Token as of 11 May 2023.
The values provided represent the prices in different currencies US dollars, South African Rand, Botswana pula, British pounds, Australian dollars, Euros and Zimbabwean dollars.
One Ounce was being sold as follows:
<ul>
<li>US$2,107.82</li>
<li>ZAR40,250.14</li>
<li>BWP28,874.28</li>
<li>AUD3,173.48</li>
<li>GBP1,690.59</li>
<li>UER1,941.08</li>
<li>ZWL3,553,292.72</li>
</ul>
Half of an Ounce was sold as follows:
<ul>
<li>US$1,053.91</li>
<li>ZAR20,125.07</li>
<li>BWP14,437.14</li>
<li>AUD11,586.74</li>
<li>GBP845.29</li>
<li>EUR970.54</li>
<li>ZWL1,776,646.36</li>
</ul>
A quarter of an Ounce was sold as follows:
<ul>
<li>US$526.96</li>
<li>ZAR10,062.53</li>
<li>BWP7,218.57</li>
<li>AUD793.37</li>
<li>GBP422.65</li>
<li>EUR485.27</li>
<li>ZWL888,323.18</li>
</ul>
A tenth of an Ounce was sold as follows:
<ul>
<li>US$210.78</li>
<li>ZAR4,025.01</li>
<li>BWP2,887.43</li>
<li>AUD317.35</li>
<li>GBP169.06</li>
<li>EUR194.11</li>
<li>ZWL355,329.27</li>
</ul>
GOLD-BACKED DIGITAL TOKEN PRICE PER MILLIGRAM (MG)
<ul>
<li>US$0.0678</li>
<li>ZWL114.24</li>
</ul>

<ol>
<li><a href="https://www.pindula.co.zw/2023/05/08/buying-rbzs-gold-backed-digital-tokens-here-is-what-you-need-to-know/">Buying Gold-backed Digital Tokens: Here Is What You Need To Know</a> </li>
<li><a href="https://www.pindula.co.zw/2023/05/11/rbz-releases-mosi-oa-tunya-gold-backed-digital-token-and-coin-prices/">RBZ Releases Gold-backed Tokens And Mosi Oa Tunya Coin Prices – 10 May 2023</a></li>
</ol>
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RBZ Releases Gold-backed Token And Mosi Oa Tunya Coin Prices - 17 May 2023

The <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe/">Reserve Bank of Zimbabwe (RBZ)</a> has invited members of the public and companies to apply for gold-backed tokens. The central bank said the gold-backed digital tokens will be issued in two phases. In phase one, the tokens will be available for investment and will have a vesting period of 180 days. They will be redeemable in the same way as existing physical gold coins and can be purchased through banks using both foreign currency and the Zimbabwe dollar. 
In phase two, the tokens will be tradable and used for Person-to-Person (P2P) and Person-to-Business (P2B) transactions and settlements. The pricing of the tokens in a foreign currency will be the same as the physical gold coins, based on the international gold price determined by the London Bullion Market Association (LBMA) PM fix. In a statement seen by Pindula News, the apex bank said:
<blockquote>
The Reserve Bank of Zimbabwe (RBZ) hereby invites applications from Individuals, Financial Institutions, Corporates and Other Entities to subscribe for the issuance of RBZ GoldBacked Digital Tokens No.1/2023.
Applications for the RBZ Gold-Backed Digital Tokens must be for a minimum of US$10 for individuals and US$5,000 for financial institutions, corporates and other entities. Application forms are available from RBZ, Commercial Banks, Building Societies and the People’s Own Savings Bank (POSB).
Completed Application Forms should be submitted through Commercial Banks, Building Societies and the POSB. The application form and prospectus for the RBZ Gold-backed digital tokens are attached to this issuance note.
Features of the Gold-Backed Digital Tokens Issuer: Reserve Bank of Zimbabwe
Vesting Period: 180 days 
Purpose of Issue: To provide investors with a platform to save, invest and transact in gold 
Offer Opens: Monday, 8 May 2023 at 0800 hours 
Offer Closes: Wednesday, 10 May 2023 at 1 200 hours 
Payment: Thursday, 11 May 2023 
Issuance Date: Friday, 12 May 2023
Special Features
• Prescribed Asset Status &amp; Liquid Asset Status; 
• Acceptable as collateral and tradable; 
• Bearer instrument; 
• Settlement will be done in local or foreign currency. 
For further details, contact RBZ Dealers on +263242703000;
</blockquote>

<ul>
<li>Download: <a href="https://news.pindula.co.zw/wp-content/uploads/2023/05/Gold-Backed_Digital_Tokens_Prospectus_-_4_May_2023_1.pdf">Application form for Gold-Backed Digital_Tokens</a></li>
</ul>
The RBZ Gold-backed Digital Tokens are being issued to expand the value-preserving instruments available in the economy, enhance the divisibility of the investment instruments and widen their access and usage by the public.
Banks will create dedicated or specific accounts for the holding of the gold-backed digital tokens (e-gold wallets or e-gold cards). Holders of physical gold coins, at their discretion, will be able to exchange or convert, through the banking system, the physical gold coins into gold-backed digital tokens. The digital tokens held in either e-gold wallets or e-gold cards will be tradable and capable of facilitating Person-to-Person (P2P) and Person-to-Business (P2B) transactions and settlement. It, therefore, means that the gold-backed digital tokens would be used both as a means of payment and a store of value.
Government critics say the <a href="https://www.pindula.co.zw/2023/04/30/rbz-gold-backed-digital-currency-a-scam-opposition-leader/">gold-backed currency may be a scam.</a>
<h2><a href="https://www.pindula.co.zw/">More Pindula News</a></h2>

RBZ Invites Individuals, Companies To Apply For Gold-backed Digital Tokens

President Emmerson Mnangagwa has claimed that the <a href="https://zero.pindula.co.zw/rbz-mpc-member-says-mosi-oa-tunya-gold-coins-results-have-been-exceptional/">Mosi-oa-Tunya gold coins</a> introduced in July this year have mopped up close to $10 billion from the parallel market.
Writing in his weekly column in the <a href="https://www.sundaymail.co.zw/zim-is-on-the-rise">Sunday Mail</a>, the president claimed that Zimbabweans have an appetite for gold coins, hence government will introduce smaller coins next month. He said:
<blockquote>
The Reserve Bank of Zimbabwe (RBZ) has sold over 10 000 gold coins for about US$15 million. This means Zimbabweans have an appetite for gold coins and to save. Our target is to release US$30 million worth of coins.
By mid-November this year, the RBZ should be in a position to unveil smaller denominations of gold coins, whose value will range from a tenth, a quarter, to half of an ounce. 
This allows more Zimbabweans to participate, including those in lower-income bands. That way, we buoy our currency, while stimulating national savings.
</blockquote>
Finance ministry spokesperson Clive Mpambela said the gold coins were effective in stabilising the exchange market in addition to other initiatives by the government including the value for money initiative.
Economist Persistence Gwanyanya said in the face of increased instability, gold coins were a viable alternative to restore the value of the local currency. 
The gold coins were introduced on the 25 of July 2022 with multi-dimensional objectives, including clearing excess liquidity which was considered a factor behind the freefall of the local currency. 
However, some analysts, however, say the introduction of smaller gold coins will not assist the country’s economic growth as government needs to support the weak productive sector more to achieve economic growth.
Analyst Effie Ncube told <a href="https://www.newsday.co.zw/local-news/article/200001805/gold-coins-mopped-up-10bn">NewsDay</a> that while gold coins might temporarily slow down inflation and reduce pressure on the exchange rate, the government needs a holistic approach to addressing the country’s economic crisis.
<h2><a href="https://zero.pindula.co.zw/">Pindula News</a></h2>

Zimbabweans Have An Appetite For Gold Coins And Saving - President Mnangagwa

The <a href="https://www.pindula.co.zw/Reserve_Bank_of_Zimbabwe">Reserve Bank of Zimbabwe (RBZ)</a> has announced the features and characteristics of <a href="https://news.pindula.co.zw/2022/06/27/reserve-bank-of-zimbabwe-introduces-gold-coins/">gold coins which are to be introduced soon</a>. In a statement seen by Pindula News, the apex bank’s Governor, Dr John Mangudya said upon purchase, the buyer shall take physical possession of the coin and be issued with a Bearer Ownership Certificate. Reads the statement:
<blockquote>
<h2>INTRODUCTION OF GOLD COINS</h2>
Pursuant to the resolution of the Monetary Policy Committee of 24 June 2022 to introduce gold coins into the market as a store of value, the Reserve Bank of Zimbabwe (“the Bank”) wishes to advise the public of the salient features and characteristics of the gold coin.
The gold coin shall be called the Mosi-Oa-Tunya Gold Coin with the following characteristics:
(i) Weight — one troy ounce. 
(ii) Purity — 22 carats. 
(iii) Identification — Each coin will have a serial number. 
(iv) Ownership – Upon purchase, the buyer shall take physical possession of the coin and be issued with a Bearer Ownership Certificate. The buyer or holder of the coin may opt to place it in the custody of bankers of own choice in which case a safe custody certificate/receipt will also be issued. 
(v) Liquidity and Tradability – The coin will have liquid asset status, that is, it will be capable of being easily converted to cash, and will be tradable locally and internationally. The coin may also be used for transactional purposes. 
(vi) Prescribed Asset Status – The coin will have prescribed asset status and institutional investors can use it to meet regulatory requirements for prescribed asset investments. 
(vii) Collateral — The coin can be used as security for loans and credit facilities. 
(viii) Buy Back Arrangement — At the instance of the holder, the Bank will buy back the coin.
The gold coins will be available for sale to the public from 25 July 2022 in both local currency (ZW$) and United States Dollars (US$) (and other foreign currencies) at a price based on the prevailing international price of gold and the cost of production. The coins will be sold through the Bank and its subsidiaries, Fidelity Gold Refinery (Private) Limited and Aurex (Private) Limited, local banks and selected international banking partners. Entities selling the coins shall be required to apply Know Your Customer (KYC) principles.
John P Manudya Governor 4 July 2022
</blockquote>
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