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The weak Rand makes investors move away from the currency, now rely on gold instead

Posted on September 5, 2019 Leave a comment

The rising gold price, the weak Rand that just can’t lift its head, coupled with the uncertainty over the country’s economic situation, has moved investors away from the money unit.

Currently, Investgold is selling up to 5,000 gold coins per week, which is a strong indication that confidence in the Ramaphosa regime is continuing to decline.

Gold mining companies have also begun to focus on the trend of a gradual upturn in the price of precious metal, which has now reached its high price over the past five years.

The Rand, which is also showing its worst against the dollar since 2016, has forced investors to play safe and trust gold instead.

In November last year, the gold price was still at $ 1,150 an ounce, but is currently at $ 1,526, which is the highest for the past decade.

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The Rand remains on a rollercoaster of volatility -the currency continued to weaken due to the heightened global growth risks after talk of financial bailout for Eskom

Posted on August 20, 2019 Leave a comment

Last week’s poor global data is indicative of a worldwide economic rough patch. Talk of another massive financial bailout for Eskom has put South Africa on thin ice with Moody’s. The country is said to be fighting a losing battle to keep its last remaining investment grade credit rating.

Foreigners have already begun dumping R2 billion worth of government bonds. This comes before what looks like an imminent downgrade to junk status, which is placing a huge amount of pressure on the local currency.

Last week’s poor global data is indicative of a worldwide economic rough patch.

Talk of another massive financial bailout for Eskom has put South Africa on thin ice with Moody’s. The country is said to be fighting a losing battle to keep its last remaining investment grade credit rating.

Foreigners have already begun dumping R2 billion worth of government bonds. This comes before what looks like an imminent downgrade to junk status, whic
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SA currency now worst in the world – ANC the guilty party for display because of land expropriation policy, corruption and fraud as well as where internal fights are the order of the day

Posted on August 14, 2019 Leave a comment

The South African currency, the Rand, has reached its lowest level since September 2018. The state’s debt burden, Eskom’s inability and negative comments from potential downgrading agencies, are cited as reasons for the poor performance.

Standard Bank’s Warrick Butler stated that the Rand is currently the poorest performer of all payment instruments worldwide. The Rand closed at R18.48 on Monday against the British pound. Reasons such as land expropriation and fraud and corruption by politicians, as well as internal fights in the ANC are silenced as possible reasons for the Rand’s performance.

Financial analysts say the battle between the Public Protector and the ANC president generously contributes to the further development of mistrust in South Africa as an investment opportunity.

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