Gold Prices Surge Past US$110 per Gram

Zim Now Reporter

Zimbabwe’s gold miners are celebrating a record-breaking price surge, with Fidelity Gold Refinery (FGR) pegging today’s top rate at US$110.36 per gram, equivalent to US$3,431.66 per ounce, for gold of 90% purity and above.

This marks a significant increase from yesterday’s rate of US$109.21 per gram.

Small-scale miners, who dominate Zimbabwe’s gold sector, welcomed the boost.

“Every dollar makes a big difference... at least now we feel the effort is paying off,” said a Kwekwe producer.

Analysts expect the higher price to drive stronger official deliveries, increased foreign currency inflows, and an improved outlook for the sector, now that the threshold has firmly moved above US$110 per gram.

Despite a minor monthly dip, Zimbabwe’s gold deliveries to FGR rose 22.57% year-on-year to 4,189.77 kg in August 2025.

The artisanal and small-scale mining sector led the growth, contributing 3,249.93 kg—or 78% of the total—and posting a remarkable 35.96% year-on-year increase.

Large-scale producers, however, delivered 939.84 kg, down 6.51% from July and 8.51% below August 2024.

With FGR’s competitive pricing driving momentum, Zimbabwe is on course to surpass its 40-tonne gold output target for 2025, provided stability and supportive policies continue.

In the first half of the year, gold deliveries reached 20,103.55 kg, up 45.85% year-on-year, with ASM output nearly doubling.

Globally, gold prices are also climbing. In the United States, the current rate stands at US$117.28 per gram, up US$3.78, or 3.33%, over the past week. The 24-karat price per gram is $117.88, while 22-karat trades at US$108.09.