Browsing: African Barrick Gold

The slight dip by gold prices is related to strengthening of the U.S. dollar but it is not expected to stay down should new cases of coronavirus emerge. Photo/J.Rotbart&co

Gold producers and investors are happy after the mighty dollar having taken a dip owing to the resurgence of demand for gold and increasing gold prices around the world and the dollar value going down, for now.

In the most recent publication by FxStreet titled Gold Price Forecast, experts admitted that “…the US Dollar (USD) weakened, a tailwind for the yellow metal.”

However, if one thing we know about the dollar is that the green buck knows how to take punch. The dollar maybe down but it is not out as the report analysts point to the hovering market confidence in the dollar performance.

“The sentiment is upbeat, as shown by global equities trading in the green. As previously mentioned, market players are positioning for a possible Fed pivot, while economic data in the US continues to show further deterioration in the country, which, coupled with high inflation and lower …


In an interesting development, while demand for gold is on the rise all over the world, gold output in Zimbabwe has fallen 17 percent in the last four months.

Why? Well, because of Covid-19. Strange because it is a result of the pandemic that world demand for gold is on the rise as people try to store the value of their money in gold.

Yet in Zimbabwe, small scale miners in the country are failing to conduct their mining activities because the country does not have the needed cash to buy mining inputs. Well let’s not say the country doesn’t have cash because it does, its just that no one will accept the Zimbabwean dollar.

Also Read: Barrick Gold back to business with Tanzania

So the trouble is that, Zimbabwe relies on other currencies, like the US dollar to make large and small payments alike like explosives among other things. …