Fidelity Gold Refinery says it has adopted spot pricing to reflect prevailing market prices, in a move observers say is aimed at attracting more gold deliveries.
“To better reflect the dynamic nature of the global precious metals market, Fidelity has transitioned its primary pricing reference to live market spot prices,” the refinery said in a statement released late Wednesday.
It said the shift means it will provide “the most competitive and transparent gold trading in Zimbabwe.”
“This shift ensures that our valued partners — from large-scale producers to small-scale miners — benefit by receiving the most current value for gold deliveries. Our pricing remains accessible and verifiable, aligned with international trading standards.”
The refinery said the change is effective immediately and applies to all gold purchases and settlements.
It added that the shift would help the local gold industry thrive “through fair, efficient and modern trading practices.”
According to Fidelity, gold deliveries to the refinery reached a new high of 46.7 tonnes in 2025, a 28% increase from the previous year, as prices exceeded US$3,500 per ounce, driving production.
Artisanal and small-scale miners accounted for more than 70% of total output.
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