Zimbabwe Gold Prices to Remain Competitive, Pegged to LBMA International Rates.

Fidelity Gold Refiners has assured miners that gold prices will remain competitive and aligned with the London Bullion Market Association (LBMA) international rates.

FGR General Manager General Manager Peter Magaramombe said the pricing strategy aims to encourage miners to sell their gold through formal channels, ensuring fair compensation and boosting the country’s gold reserves.

The pricing of gold at FGR is determined by taking the daily LBMA gold price, which is the global benchmark for gold, and applying it to the local market conditions.

This price is then adjusted for local costs such as refining fees, transport, and any applicable taxes or levies. By aligning with the LBMA rates, FGR ensures that miners receive a price that reflects the international market value, minus these operational costs.