Gold rally brings riches to rural Zimbabwe
In Filabusi, in south-eastern Zimbabwe the streets are packed with BMW X5s and Land Rover Defenders, modern houses paid for in cash are springing up and whisky is only sold by the bottle in the small town’s bars. The three-year surge in gold prices, driven to a record this year as US President Donald Trump’s trade war bolstered its allure as a safe-haven, is enriching the country’s more than 700 000 informal, or artisanal, miners. They are flocking to gold mining belts and throwing a lifeline to an economy that’s been in economic turmoil since the turn of the century.
In Filabusi, in south-eastern Zimbabwe the streets are packed with BMW X5s and Land Rover Defenders, modern houses paid for in cash are springing up and whisky is only sold by the bottle in the small town’s bars. The three-year surge in gold prices, driven to a record this year as US President Donald Trump’s trade war bolstered its allure as a safe-haven, is enriching the country’s more than 700 000 informal, or artisanal, miners. They are flocking to gold mining belts and throwing a lifeline to an economy that’s been in economic turmoil since the turn of the century.
