An economist says the current two percentage climb in gold prices will not have a great impact on the Zambian economy.

Speaking in an interview with Money FM News, Dr. Patrick Chileshe said “this is because government has not disclosed how many gold deposits exist in the country.”

Dr Chileshe said the positive effect of gold prices will only be assured once relevant authorities review how much deposits are available and how much value will be added for export.

He added that “gold is a great store of value despite the global economy being affected by the coronavirus.”

Dr. Chileshe’s comment came in following the 2% increase in gold prices on the global market with spot gold selling at $1,663.06 per ounce.