The Price of Gold in Zimbabwe Today: A Detailed Look in USD

The price of gold, being a globally traded commodity, is primarily driven by international market dynamics. However, in Zimbabwe, local factors such as exchange rates, government policies, and the interplay of supply and demand significantly influence the final price buyers and sellers encounter.

It is crucial to understand that these prices are highly dynamic and subject to immediate fluctuations based on the live global spot market.

As of Wednesday, June 18, 2025, the approximate global spot prices for gold in USD are as follows. These figures represent the pure gold content and do not include local premiums, assaying costs, taxes, or dealer margins that will be added in Zimbabwe.

Gold Prices in Zimbabwe Today (June 18, 2025)

Gold prices in Zimbabwe are influenced by global spot rates, local demand, currency fluctuations, and RBZ policies. Below, we detail the 24K, 22K, and 18K gold prices per gram and 1kg in USD, based on recent web data and market trends. Prices are estimates, as they fluctuate daily, and exclude premiums (1%–5%), taxes, or shipping costs unless noted.

Note:

• The prices for 22k and 18k gold are derived by calculating 91.67% (for 22k) and 75% (for 18k) of the 24k price, respectively. These are approximations based on the purity ratio to 24k gold.
• Prices are raw spot rates, excluding premiums (1%–5% for bars, 3%–15% for coins), shipping ($0.50–$2/g), or taxes (VAT-exempt on bullion in Zimbabwe).
• Converted from ZWL at 1 USD = ZWL 361.90 (GoldRate24.com, May 2025)
• It is paramount for any prospective buyer to obtain the most current prices directly from authorized dealers Like Gold Buyers Africa Limited or Fidelity Gold Refinery (FGR) in Zimbabwe at the time of their intended transaction, as these figures are highly sensitive to market movements.

Understanding Karats and Purity

Gold purity is measured in karats (k). Here’s what the different karats mean:

1. 24 Karat (24k):This is pure gold, containing 99.9% gold. It is the softest form of gold and is typically used for bullion, bars, and coins for investment purposes.
2. 22 Karat (22k):This gold contains 91.67% gold and 8.33% other metals (like copper or silver) to increase its durability. It is commonly used for making jewelry, particularly in regions like India and the Middle East, where a higher gold content in jewelry is preferred.
3. 18 Karat (18k):This gold consists of 75% gold and 25% other metals. It is a popular choice for fine jewelry due to its balance of gold content and durability, making it more resistant to scratches and dents than 22k or 24k gold.

The price variations between these karats directly reflect their gold content, with 24k being the most expensive due to its higher purity.

Factors Influencing Gold Prices in Zimbabwe

Beyond the global spot price, several interconnected local factors significantly influence the price of gold in Zimbabwe:

1. Exchange Rate Volatility:

Zimbabwe’s economic history is marked by periods of high inflation and currency instability. The recent introduction of the Zimbabwe Gold (ZiG) currency, theoretically backed by gold and foreign currency reserves, is the latest effort to stabilize the monetary system.

The exchange rate between the ZiG and major international currencies, particularly the USD, directly impacts the local gold price. A depreciation of the ZiG against the USD makes gold, which is priced in USD on international markets, effectively more expensive in local currency terms.

Conversely, a stronger ZiG could make it appear cheaper. Gold often serves as a preferred store of value and hedge against local currency erosion for Zimbabweans.

2. Government Policies and Regulations:

The Zimbabwean government’s approach to gold mining, trade, and export plays a crucial role.

• Royalties and Taxes: The government levies royalties on gold production (e.g., 2% for small-scale miners, 5% for primary producers, with specific thresholds).

These taxes influence the profitability of mining and indirectly affect the supply and price.

• Retention Levels: The RBZ mandates retention levels for gold producers, determining what percentage of their earnings they can retain in foreign currency.

For instance, small-scale miners are often incentivized with higher USD retention (e.g., 100% for deliveries to FGR), aiming to formalize deliveries and discourage smuggling.

These policies directly influence the local supply of gold available through official channels.

• Export Restrictions: As FGR is the sole legal exporter, strict controls are in place to prevent unrefined or undeclared gold from leaving the country.

These controls can affect the overall market dynamics.

3. Local Supply and Demand:

• Mining Output: The volume of gold extracted by both large-scale mining companies and a vast network of artisanal and small-scale miners directly impacts the local supply.

Increased formal deliveries to FGR can stabilize prices and availability through official channels.

• Local Investment Demand: During periods of economic uncertainty, high inflation, or currency instability, local demand for gold as a safe-haven asset tends to surge, potentially creating localized premiums or shortages in the informal market.

4. Global Gold Price Movements:

The most significant driver remains the international spot price of gold, which is influenced by:

• Geopolitical and Economic Uncertainty: Gold traditionally acts as a safe-haven asset.

Global conflicts, economic downturns, political instability, and financial crises typically lead to increased demand for gold, driving up its price.

• Interest Rates and Monetary Policy: Higher interest rates generally make non-yielding assets like gold less attractive compared to interest-bearing investments (e.g., bonds).

Conversely, lower interest rates or quantitative easing measures often boost gold’s appeal.

• US Dollar Strength: Since gold is predominantly priced in US dollars, a stronger dollar makes gold more expensive for holders of other currencies, potentially dampening demand. A weaker dollar can make gold more affordable and increase demand.
• Inflationary Pressures: Gold is widely considered a hedge against inflation. When inflation rises, investors often turn to gold to preserve their purchasing power.
• Central Bank Activity: Decisions by central banks to buy or sell gold for their reserves can significantly impact global gold demand and prices

How to Buy Gold in Zimbabwe: Navigating a Regulated Market

Purchasing gold in Zimbabwe is not as straightforward as a typical retail transaction. It is governed by strict regulations primarily enforced by the Reserve Bank of Zimbabwe (RBZ) through its wholly-owned subsidiary, Fidelity Gold Refinery (FGR), Gold Buyers Africa Limited (GBAL), formerly Fidelity Printers and Refiners.

FGR holds the sole legal mandate to buy, refine, and export gold in Zimbabwe. This centralized system aims to formalize gold trade, combat illicit mining and smuggling, and ensure that the nation reaps maximum benefit from its gold resources.

1. Understand the Legal Framework and Licensing:

The cornerstone of legal gold trade in Zimbabwe is compliance with the Gold Trade Act [Chapter 21:03]. This act strictly prohibits dealing in or possessing gold without proper authorization.

For individuals or entities looking to purchase gold beyond small quantities of jewelry, obtaining a gold buying permit or operating through an authorized channel is non-negotiable.

Engaging in unauthorized gold trade can lead to severe penalties, including lengthy imprisonment.

2. Obtain a Gold Buying Permit (if applicable):

• Individuals for Investment/Bullion: While purchasing gold jewelry from a registered jeweler is generally permissible without a specific permit for the buyer, significant investments in gold bullion (bars, coins) or raw gold for commercial purposes do require a gold buying permit.

The specific requirements for individual permits can be stringent and are best clarified directly with FGR or authorized financial institutions.

• Businesses/Commercial Buyers: For commercial gold buying, the process is more rigorous. Applicants typically need:
• A valid business registration certificate.
• Demonstrable proof of financial capability to undertake gold purchases.
• Compliance with stringent anti-money laundering (AML) and counter-terrorism financing (CTF) regulations.
• A current tax clearance certificate.
• A detailed business plan outlining the intended gold buying operations.
• For larger operations, a demonstrated minimum purchase volume (e.g., 50kgs of gold per month for certain licenses) might be a requirement to maintain the permit.

3. Choose the Right Seller: Authorized Channels are Key:

Given the tightly controlled environment, the most legitimate and secure avenues for gold acquisition in Zimbabwe are:

• Fidelity Gold Refinery (FGR): FGR is the ultimate authority for gold transactions. They set the official buying and selling prices, which are linked to international spot prices.

FGR has decentralized its gold buying operations, establishing numerous buying centers across all major gold-producing regions in Zimbabwe.

This decentralization significantly reduces security risks associated with transporting gold and makes it more accessible for miners to sell their gold legally.

Engaging directly with FGR, especially for larger quantities, provides the highest level of assurance regarding legality and authenticity.

• Registered Gold Dealers and Authorized Banks:Like Gold Buyers Africa Limited an Online Licensed dealer with global delivery from Uganda, Congo, and Zimbabwe.

Several licensed gold dealers and authorized banks operate under the direct supervision and licensing of FGR and the RBZ. like These entities provide a structured and regulated environment for buying gold.

They are well-versed in the legal requirements and can facilitate transactions while ensuring compliance. It is crucial to verify that any dealer you engage with holds a valid and current license from FGR.

• Avoid Unlicensed Sellers (Artisanal Miners): While artisanal miners might sometimes offer gold at seemingly lower prices, purchasing from them directly without proper legal channels is illegal and highly risky.

Risks include acquiring un-assayed or low-purity gold, encountering fraudulent schemes, and facing severe legal repercussions for participating in illicit gold trade. The government actively discourages and prosecutes such activities.

4. Verify Gold Authenticity and Purity:

This is a critical step, especially when purchasing substantial quantities.

• Assaying: Professional gold assaying is the most reliable method to determine the precise purity and gold content. Reputable dealers and FGR will provide comprehensive assay reports.
• Hallmarks and Stamps: Gold items, especially jewelry and recognized bullion, often bear hallmarks or stamps indicating their purity (e.g., “999” or “999.9” for 24k, “916” for 22k, “750” for 18k). While helpful, these should ideally be corroborated by professional assaying for significant investments.
• Certified Dealers: Always prioritize purchasing from dealers who provide verifiable certification and assay reports for the gold.
• Basic Tests (for preliminary checks): Simple tests like the magnet test (gold is non-magnetic), density test (gold is very dense), or acid test can offer preliminary indications of authenticity but are not definitive and should not replace professional assaying.

5. Payment Methods and Documentation:

• Utilize secure and traceable payment methods such as bank transfers. Cash transactions, especially for large sums, carry higher risks.
• Insist on receiving a proper receipt, a certificate of authenticity, and all necessary legal documentation for the transaction. This documentation is vital for proving legal ownership, facilitating any future sale, or if you intend to export the gold.

Best Place to Buy Gold in Zimbabwe

Identifying the “best” place to buy gold in Zimbabwe hinges on factors such as the volume of gold desired, the buyer’s objective (investment, jewelry, commercial), and their adherence to legal compliance. For the overwhelming majority of legitimate buyers, especially those prioritizing security and adherence to the law, the following options are recommended:

1. Fidelity Gold Refinery (FGR):

As Zimbabwe’s official and sole authorized gold buyer and refiner, FGR represents the most secure and transparent channel for gold transactions. They offer competitive rates aligned with international market prices. FGR’s extensive network of gold buying centers across Zimbabwe ensures accessibility. These centers are located in:

• Bulawayo
• Bindura
• Chinhoyi
• Gwanda
• Gweru
• Filabusi
• Kadoma
• Kwekwe
• Masvingo
• Mutare
• Zvishavane
• Shurugwi
• Makaha Mutoko
• Mt Darwin
• Shamva
• Chegutu
• Mberengwa
• Maphisa

Their commitment to formalizing gold trade, coupled with their refining capabilities, makes them the premier destination for serious gold buyers seeking legitimacy and quality assurance.

2. Reputable Gold Dealers and Authorized Banks:

In major urban centers like Harare and Bulawayo, several licensed gold dealers and commercial banks operate in close conjunction with FGR and the RBZ. These entities offer a regulated environment for buying gold, often providing convenience and expert advice. It is absolutely crucial to verify the current licensing status of any such dealer with FGR before proceeding with a transaction. They often act as agents for FGR, facilitating the collection and onward sale of gold to the national refinery.

3. Online Platforms (with extreme caution and verification):

While the physical presence of FGR and licensed dealers is the dominant model, some online platforms, such as Gold Buyers Africa Limited (also associated with Gold Prices in Africa), position themselves as facilitators for gold purchases, particularly for international clients interested in Zimbabwean gold.

Regarding Gold Buyers Africa Limited:

Gold Buyers Africa Limited, as promoted on various platforms, aims to offer a secure and convenient way to purchase gold originating from Zimbabwe. Their stated focus includes:

• Authenticity and Secure Transactions: Emphasizing compliance with Zimbabwean gold trading regulations and providing high-quality gold bars, coins, and bullion.
• Convenience: Leveraging online platforms to simplify the buying process for a broader clientele, including international buyers.
• Transparent Pricing: Striving to offer competitive pricing that reflects global market rates.
• Secure Delivery: Reportedly offering secure delivery options, which is a critical consideration for international gold transactions.

However, any engagement with online or private gold buyers, including Gold Buyers Africa Limited, must be approached with the utmost diligence:

• Verify Authorization: The primary step is to independently verify their current licensing and authorization status with the relevant Zimbabwean authorities (Fidelity Gold Refinery and the Reserve Bank of Zimbabwe). The gold market is heavily regulated, and any legitimate private entity must operate under strict government oversight.
• Reputation and Reviews: Conduct thorough research into their track record, independent customer reviews, and look for any red flags or complaints.
• Transparency: Demand clear and upfront information regarding pricing, purity guarantees, origin, and detailed terms and conditions, including processes for delivery, insurance, and legal compliance.
• Secure Transactions: Ensure that any online payment gateways are highly secure and that comprehensive insurance is provided for the gold until it reaches your possession.
• Physical Presence/Inspection: If possible, consider arranging for a physical inspection and assay of the gold through an independent, certified assayer in Zimbabwe, especially for large purchases, before finalizing payment.

Given Zimbabwe’s strict gold trade laws, official channels like FGR  and GBAL (Gold Buyers Africa Limited)are generally the safest and most reliable for both local and international buyers. Any private entity operating in this space must demonstrate an explicit, verifiable link and authorization from FGR to ensure legality and avoid involvement in illicit activities.

Conclusion

Zimbabwe’s gold market sparkles in June 2025, with 24K gold at $100.15/g ($100,152.79/kg), 22K at $91.80/g ($91,800/kg), and 18K at $75.10/g ($75,100/kg). Driven by global demand, hyperinflation, and ZWL volatility (361.90/USD), gold remains a safe-haven asset in Zimbabwe’s $2B market. Buying gold here requires a permit ($2,000–$5,000), compliance with RBZ rules, and trusted dealers like Fidelity Gold Refinery or Gold Buyers Africa Limited.

Gold Buyers Africa Limited stands out, offering 24K bars at $80–$84/g, saving up to $20,000/kg vs. FGR’s $100,153, with conflict-free gold from Zimbabwe, Uganda, and Congo. Their ethical sourcing, global shipping, and transparency make them a top choice for investors in Harare, Bulawayo, or abroad. Whether you’re buying a 1 oz coin ($3,115) or a 1kg bar ($84,000), start with licensed dealers, verify purity, and secure storage.

With gold prices projected to hit $3,000/oz by 2027, now’s the time to invest. Contact Gold Buyers Africa Limited today to secure your wealth with Zimbabwe’s finest gold, blending value, ethics, and a touch of African shine!