Harare – 18 June 2025
The Reserve Bank of Zimbabwe (RBZ) has officially suspended the sale of gold coins following what it says is the successful clearance of remaining stock through a final mop-up exercise.
In a statement issued today, RBZ Governor Dr John Mushayavanhu confirmed that the suspension takes immediate effect, marking the end of a short-term trading phase designed to offload the bank’s remaining gold coin inventory.
“The Reserve Bank of Zimbabwe wishes to advise the transacting public that the mop-up sale of gold coins has been suspended, with immediate effect, following the successful completion of the exercise,” said Dr Mushayavanhu.
He further clarified that no new gold coins were minted for this final round. Instead, the latest transactions involved previously minted coins, including those redeemed by investors.
“This was a sale meant to clear the remaining stock and not the minting of new gold coins, which has been suspended since April 2024. The latest round of gold coin sales also included coins redeemed by holders,” he added.
Despite the halt in fresh sales, gold coins already in circulation remain valid and tradable. Investors can continue to redeem or resell them through authorised channels.
“The Reserve Bank of Zimbabwe advises that future gold coin sales will be undertaken upon accumulation of a sizeable quantity from redemptions. Investors are advised that gold coins in the market remain tradable and redeemable.”
Launched in 2022 as a hedge against inflation and currency volatility, the gold coins were part of broader measures aimed at stabilising the financial system and promoting savings. The suspension marks a pivotal shift in the RBZ’s monetary tools.
Dr Mushayavanhu concluded by reaffirming the central bank’s broader mandate:
“The Reserve Bank of Zimbabwe would like to take this opportunity to reaffirm its commitment to continuously avail alternative financial market instruments to promote savings, as well as achieve its monetary policy objectives.”
This development comes amid continued efforts by the central bank to consolidate monetary reforms and restore public confidence in local financial instruments.-ZimEye