|

South African rand raises

ByVictoria

The South African rand strengthened on Tuesday, helped by the gold price extending its historic run to a new all-time peak.

At 0814 GMT, the rand traded at 18.0175 against the dollar , about 0.4% stronger than its previous close.

“At some point a gold price that continues to rise will excite local miners to make a greater effort to mine difficult-to-reach gold deposits. What may not have looked viable several years ago must be looking interesting now,” said ETM Analytics in a research note.

Source – Reuters

South African rand – is the official currency of South Africa. 1 South African Rand is $0.055 USD.

Similar Posts

  • /

    Silver price strengthens dollar

    ByVictoria
    0 Comments

    Silver price (XAG/USD) hits a fresh weekly high to near $33.20 during North American trading hours on Wednesday. The white metal strengthens as the US Dollar (USD) extends its downside on the United States (US) credit rating erosion in the wake of large debt levels and escalated fiscal imbalances.

    Technically, a soft US Dollar makes the Silver price a value bet for investors. Additionally, concerns over US credit erosion improve the safe-haven demand of non-yielding assets, such as Silver.

    Source – FX Street

  • /

    Gold sees longest rally since 2020

    ByVictoria
    0 Comments

    “During the last three days, gold is up over 8% and on pace for its largest three-day move since March 2020,” Bespoke Investment Group said in a note Friday morning. “Before that, you would have to go back to the financial crisis to find the last time it rallied as much in three days.”

    “Gold may be catching a bid, but the dollar has floundered,” said Bespoke. “If you were looking for bonds to provide some ballast in your portfolio this week, you didn’t get it with Treasuries.”

    Source – Market Watch

  • /

    Freeport set to resume copper exports from Indonesia

    ByVictoria
    0 Comments

    Indonesia has restricted raw material exports to pressure companies to refine minerals locally and add value to its exports. Freeport has local refining capacity, but is seeking to keep exporting concentrate due to a fire last October at its Manyar smelterin East Java.

    Should exports resume, it will relieve, although not reverse, a shortage of copper concentrate that has hit the profits of smelters.

    Source – Reuters

  • /

    Peru has high expectations for copper

    ByVictoria
    0 Comments

    Peru’s Energy and Mines Minister Jorge Montero expects mining investment in the world’s third-largest copper producer to reach $4.8 billion this year, and output of the red metal to be 2.8 million metric tons, he said on Tuesday.

    Source – Reuters

  • / /

    Gold, silver prices plummet in US Fed cuts

    ByVictoria
    0 Comments

    “Gold fell sharply post-Federal Open Market Committee (FOMC) meeting as the Fed’s indication of a slower pace of interest rate cuts than previously estimated for the next year,” Saumil Gandhi, Senior Analyst of Commodities at HDFC Securities, said.

    Silver quoted 2.47 per cent lower at USD 29.98 per ounce in the international markets.

    “Investors are anticipating US weekly unemployment claims data to be released later on Thursday to assess the strength of the labour market, while focusing on the Personal Consumption Expenditures (PCE) price index data on Friday,” Abans Holdings’ Chief Executive Officer Chintan Mehta said.”

    “We expect gold prices to rise further, but any delay in additional interest rate cuts could lead to short-term declines, creating opportunities for accumulation, Mehta said.”

    Source – Press Trust of India

  • / /

    Discover Silver aims to grow production

    ByVictoria
    0 Comments

    Discovery Silver is making a significant move into the gold sector with its acquisition of the Porcupine mine in Ontario, Canada, from Newmont. The deal, discussed by CEO Tony Makuch in an interview at the 2025 BMO Global Metals Mining and Critical Minerals Conference, marks a shift for the company, which has been primarily known as a silver developer in Mexico.

    “The other part of value creation here is you take assets that are not Tier 1 assets at this point in time, and you convert them to Tier 1 assets,” he explained.

    Source – KITCO News