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Zimbabwe - Monthly Economic Review - May 2014

02-Apr-2015

Average gold prices declined by 12.6 percent from USD 1,486.05 per ounce in April 2013 to USD 1,298.80 per ounce in April 2014.The price of platinum declined by 3.8 percent from an average of USD 1,487.94 per ounce to USD 1,431.40 per ounce over the same period (Figure 1). Precious metals prices in April 2013 were supressed by the reduced demand from leading buyers like India due to government import restrictions on gold and China due to the economic slowdown. Furthermore, the selling off of precious metals by investors opting for alternative investment markets yielding higher returns has also weighed down on prices.

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