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In a tweet over the weekend Citizens Coalition for Change (CCC) spokesperson, Fadzayi Mahere said the introduction of the gold-backed digital tokens contravenes the Reserve Bank Act.
The initial move to a gold-backed trade currency is likely to undermine the dollar’s purchasing power, leading to higher oil and gas prices, particularly as depleted reserves need replenishing ahead of the Northern Hemisphere’s winter months.
Source: https://www.lewrockwell.com/2023/08/alasdair-macleod/gold-is-replacing-the-dollar/
The two gold-backed ETFs, of course, pay no dividends.
Zimbabwe's central bank has set a price for its gold-backed digital tokens.