The gold-backed digital token Zimbabwe Gold (ZiG) is now officially allowed as a payment method in the country.
The Reserve Bank of Zimbabwe has allowed ZiG to be used for payment since October 5, and it can be used "beyond its value preservation purpose" to settle domestic transactions. The value of ZiG is based on the international gold price, and it is equal to the value of the physical Mosi-oa-Tunya gold coin. Banks will hold ZiG accounts and treat transactions in ZiG the same as transactions in local and foreign currency. Zimbabwe unveiled its token project back in April. Anyway, the currency is backed by the corresponding physical amount of gold. The gold for it is in the bank's reserves. The idea behind the physical coins and digital gold tokens is for investors to put their assets in the national asset rather than in U.S. dollars.
After all, inflation in the country is in triple digits. ZiG digital tokens must be stored in e-gold wallets or e-gold cards. They may be traded for both private purposes and business transactions. The Reserve Bank of Zimbabwe announced that it has sold 350 kilograms of gold worth of ZiG tokens, and sales are continuing.
Gold has an unbeatable value-preserving character. In the wake of the Middle East conflict, the price of gold has risen and is approaching the US$1,900 mark. Things escalated during the last conflict 50 years ago. How the Middle East conflict will continue remains to be seen. But investors should always be on the right side with gold investments, for example with Tudor Gold or U.S. GoldMining.
Tudor Gold - https://www.commodity-tv.com/ondemand/companies/profil/tudor-gold-corp/ - has successfully completed the 2023 drill program at its Treaty Creek Gold Project in the Golden Triangle, British Columbia (nearly 32,000 metres of drilling).
U.S. GoldMining - https://www.commodity-tv.com/ondemand/companies/profil/us-goldmining-inc/ - is advancing the rediscovery of the Whistler project (gold and copper) in Alaska. The 10,000-meter drill program has begun.
Latest corporate information and press releases U.S. GoldMining (https://www.resource-capital.ch/en/companies/us-goldmining-inc/ ).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/
The Reserve Bank of Zimbabwe has allowed ZiG to be used for payment since October 5, and it can be used "beyond its value preservation purpose" to settle domestic transactions. The value of ZiG is based on the international gold price, and it is equal to the value of the physical Mosi-oa-Tunya gold coin. Banks will hold ZiG accounts and treat transactions in ZiG the same as transactions in local and foreign currency. Zimbabwe unveiled its token project back in April. Anyway, the currency is backed by the corresponding physical amount of gold. The gold for it is in the bank's reserves. The idea behind the physical coins and digital gold tokens is for investors to put their assets in the national asset rather than in U.S. dollars.
After all, inflation in the country is in triple digits. ZiG digital tokens must be stored in e-gold wallets or e-gold cards. They may be traded for both private purposes and business transactions. The Reserve Bank of Zimbabwe announced that it has sold 350 kilograms of gold worth of ZiG tokens, and sales are continuing.
Gold has an unbeatable value-preserving character. In the wake of the Middle East conflict, the price of gold has risen and is approaching the US$1,900 mark. Things escalated during the last conflict 50 years ago. How the Middle East conflict will continue remains to be seen. But investors should always be on the right side with gold investments, for example with Tudor Gold or U.S. GoldMining.
Tudor Gold - https://www.commodity-tv.com/ondemand/companies/profil/tudor-gold-corp/ - has successfully completed the 2023 drill program at its Treaty Creek Gold Project in the Golden Triangle, British Columbia (nearly 32,000 metres of drilling).
U.S. GoldMining - https://www.commodity-tv.com/ondemand/companies/profil/us-goldmining-inc/ - is advancing the rediscovery of the Whistler project (gold and copper) in Alaska. The 10,000-meter drill program has begun.
Latest corporate information and press releases U.S. GoldMining (https://www.resource-capital.ch/en/companies/us-goldmining-inc/ ).
In accordance with §34 WpHG I would like to point out that partners, authors and employees may hold shares in the respective companies addressed and thus a possible conflict of interest exists. No guarantee for the translation into English. Only the German version of this news is valid.
Disclaimer: The information provided does not represent any form of recommendation or advice. Express reference is made to the risks in securities trading. No liability can be accepted for any damage arising from the use of this blog. I would like to point out that shares and especially warrant investments are always associated with risk. The total loss of the invested capital cannot be excluded. All information and sources are carefully researched. However, no guarantee is given for the correctness of all contents. Despite the greatest care, I expressly reserve the right to make errors, especially with regard to figures and prices. The information contained herein is taken from sources believed to be reliable, but in no way claims to be accurate or complete. Due to court decisions, the contents of linked external sites are also co-responsible (e.g. Landgericht Hamburg, in the decision of 12.05.1998 - 312 O 85/98), as long as there is no explicit dissociation from them. Despite careful control of the content, I do not assume liability for the content of linked external pages. The respective operators are exclusively responsible for their content. The disclaimer of Swiss Resource Capital AG also applies: https://www.resource-capital.ch/en/disclaimer/
