Home Mining Breaking: Fidelity Hikes Gold Price.

Breaking: Fidelity Hikes Gold Price.

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Fidelity Printers and Refiners has hiked the gold price from US $45 with the company’s General Manager Fradreck Kunaka saying the prices will be changing according to the world market on a daily basis.

According to Fidelity, SG 90% and above is pegged at US $52.01 per gramme while SG above 85% but below 90% is pegged at US $51.14 per gramme.

SG above 75% but below 80% fetches US $49.40 per gramme, a sample below 10 grammes but above 5 grammes is pegged at US $50.66 per gramme while fire assay cash is at US $52.30 per gramme.

The hiking of prices come after Fidelity reviewed the gold price on the 26th of May to US $45 USD per gramme for small scale miners after concerns raised by the producers who now account for 60 % of deliveries to the only designated gold buyer.

Meanwhile, the government yesterday revealed that the 2020 budget will expend more resources on capacitating security institutions engaged in monitoring and curbing mineral leakages.

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