Latest News & Developments
commodity market
Record gold prices sparkle for miners thanks to Trump tariffs, yet SA’s economy loses its Midas touch
Overnight, Gold miners, Sibanye Stillwater, AngloGold Ashanti, Gold Fields and Harmony Gold Mining Company advanced 6. 8%, 4. 1%, 3. 1% and 2. 9%, respectively, data from Anchor Capital showed.
Gold holds steady near record high, but US monetary stance dampens market
Bullion’s status as an investment safe haven has been reinforced this year in the wake of Donald Trump’s disruptive geopolitical moves, with prices surging by around 11% since January.
Gordhan confirms third-party access on rail network
Minister of Public Enterprises Pravin Gordhan said allowing third-party access on the rail network will improve the performance of Transnet.
Critical Minerals in Africa - A new Resource Curse or an Opportunity for Industrial Development
OPINION: New sobering reality-nightmare scenario is unfolding in that the green transition requires massive extraction in the most under-developed and unstable zones in Sub Saharan Africa.
Opec predicts 16. 5% rise in global oil demand by 2045
In its 2023 World Oil Outlook report, the group said it expected global crude demand to rise from 99. 6 million barrels per day (bpd) in 2022 to 116 million bpd in 2045.
Disrupting oil flows but failing to slash Russia’s earnings
OPINION: Under the G7's policy, which was joined by Australia and the EU, tankers carrying Russian crude oil are barred from getting Western maritime insurance unless the oil is sold below the G7’s price cap, writes Ekaterina Blinova.
JSE stocks, metal and minerals indices slump in global sell-off
The declines, which saw the share prices of some of South Africa’s leading miners slump, was mirrored in the international price of copper, which fell to a more than seven-month low - the price is often seen as a benchmark for metals price trends and global industrial activity.
Rand slides to its weakest level this year against bullish dollar
THE RAND weakened by 0. 21 percent to R16. 22 to the greenback by 5pm, dragged down by concerns of monetary policy tightening in the US after the Federal Reserve raised interest rates by a widely-expected half percentage point.
Eskom’s planned separation to miss year-end deadline
Eskom’s planned separation of its transmission unit looks set to miss the year-end deadline as the power supplier remained in the red, with its debt still north of R400 billion.
SA’s industrial production sinks to 14-month low in July
South Africa’s industrial production plunged to a 14-month low in July driven down by worsening Covid-19 lockdown restrictions due to the third wave, and the unprecedented civil unrest.
Gold rally surges past $2 000, rand draws support from dollar weakness
This $2 000-an-ounce mark, according to market watchers, is a significant psychological resistance level, with gold’s 49-year trend channel resting just below at $1 983 per ounce.