Zimbabwe’s gold sector recorded a strong performance in August, with deliveries to Fidelity Gold Refinery rising by nearly a quarter compared to the same month last year.
According to official figures, a total of 4,189kg of gold was delivered in August 2025, up 22.6% from 3,418kg in August 2024.
The growth was largely driven by artisanal and small-scale miners, who supplied 3,249kg — a 36% increase from 2,390kg a year earlier. Their contribution accounted for almost 78% of total deliveries.
In contrast, output from primary producers slipped by 8.5%, falling from 1,027kg last year to 939kg this year.
For the first eight months of 2025, cumulative deliveries stood at 28,498kg, placing the country firmly on track to surpass its 40-tonne annual target.
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Of this, small-scale miners contributed 21,011kg, while primary producers accounted for 7,486kg.
Analysts attribute the surge to record-high global gold prices and growing trust in formal marketing systems.
Exports for the first seven months of 2025 jumped to US$1.39bn, a 60.5% increase from US$863.1m during the same period last year, according to the Reserve Bank of Zimbabwe.
On the international market, gold maintained its rally, with spot prices climbing 0.5% on Friday to US$3,651.92 per ounce, just shy of the record US$3,673.95 set earlier in the week. Market watchers believe prices could soon break into the US$3,700–US$3,730 range.
The surge extends a two-year bull run, with prices already up 37% this year after gaining 27% in 2024.
The rally has been underpinned by a weaker US dollar, strong central bank purchases, loose monetary policies, and heightened global uncertainty that has reinforced gold’s appeal as a safe-haven asset.
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