It is D-Day for South Africa, or should that be M-Day (M for Moody's) ? Moody's has been kind to us over the years, keeping us at investment grade even though other ratings agencies like Fitch and Standard and poor's have junked our economy. Has the time come for the big drop? How many times … Continue reading D-Day for SA
The Rand is under enormous pressure, mainly due to international factors such as tensions between China and the US, as well the chaotic Brexit situation. (Currently R15.27/USD) Locally, time is running out for the government to avoid a Moody's downgrade in November (Review is scheduled for November 1.). Recent bail-outs of Denel, SAA and SABC … Continue reading Rand buckling under pressure
The South African Reserve Bank's Monetary Policy Committee meets this week. The SARB is expected to cut rates by 0.25% on Thursday. This would be the first cut since March 2018. If the SARB does not drop the rate this week, it will more than likely do so at its next meeting in September. Keep … Continue reading Rate cut expected
Both the Rand and the Gold price are seemingly on a roller coaster ride. There is currently no stability in the markets. The possibility of more loadshedding, and therefore more losses to the economy, hangs like a dark cloud over the country. With a national election coming up in May, no one can accurately predict … Continue reading Volatility continues.
The Finance Minister, Tito Mboweni, will on Wednesday afternoon deliver the most important budget speech in the history of South Africa. The economy is dead and little has been done to revive it. Eskom has failed, as have many other State Owned Enterprises. The big question is: How will Eskom be bailed out? Moody's will … Continue reading It is Budget time!
The Rand gave up acres of ground over the course of the last two days as loadshedding returned to haunt the South African economy. The economy, already in the doldrums, could hardly afford another round of loadshedding. The ratings agency Moodys will have taken note of the situation and may well change our outlook from … Continue reading Rand weakens passed R14/USD
The Gold price moved nicely passed the 1300USD/Oz mark as the US Fed indicated the end of the current cycle of interest rate hikes. The yellow metal touched the 1325USD/Oz mark before closing at 1315, and is currently at 1318USD/Oz.
It is the new year and we can expect exciting things from both the numismatic and bullion sectors this year. The South African Mint will soon be rolling out the 2019 South African Mint coins and don't be surprised if there are some nice special issues that appear during the course of the year. The S.A.Mint is … Continue reading All the best for 2019!
Happy Holidays to everyone! May you have a Golden 2019!
The South African Mint's innovative Silver Colour coin range continues to be absolutely stunning. The 2019 theme will be the 'Kruger to Canyon Biosphere Reserve', an area just as beautiful as these coins. You really need to hold one of these coins in your hand to appreciate its beauty and striking design. There will be … Continue reading Silver Colour coins continue to stun