Zimbabwe says it exported gold worth US$540 million for the seven months to August 2020.

Comparatively, exports of nickel mattes over the same period amounted to US$556 million.

Over the first seven months of the year, the yellow metal has been trading at just under US$2000 per kg.

According to international metal analysts FX Empire, gold prices rallied on Monday bouncing near support at the 10-day moving average at US$1,887. Resistance is seen near the 50-day moving average at US$1,945.

On the other hand, nickel prices have been range bound around US$13 000 – US$14 000 per tonne.

On Monday, the three-month nickel price on the LME closed at $14 600 per tonne

Gold is one of Zimbabwe’s main export earners.

Last year, the country failed to meet a gold production target of 40 tons.

Authorities had set the target after an encouraging 2018 when production reached 33.2 tons against a target of 30 tons.

The local gold sector has been blighted by increasing levels of leakages.