Gold hits record highs while JSE thrives; Rand falters amid Trump's tariffs - Chris Harmse

GOLD recorded a new record level of $3 085 in intra-day trade on Friday. Analysts like Goldman See the price for bullion at $3300 over the next 12 months.

- CHRIS HARMSE

The ongoing Trump tariff war with the rest of the world is expected to drive up global inflation and will make risky assets like equities, reducing gold’s role as a safe haven for investors.

The possible work in the Government of National Unity (GNU) to calm the position on the national government’s Budget, has put the Rand exchange rate under pressure, as the currency closed Friday at R18.96 to the dollar (R19.86 weaker for the week), R19.86 against the euro (R20.65 weaker), and depreciation due to the week would total R35.88 against the pound.

The JSE All Share Index enjoyed a robust performance last week, climbing 56 points to maintain its position above the 80 000 points mark for the second consecutive week. On Friday, the index reached an intra-day high of 90 141 points, but for the month is marked up 4.2% points is surged by an impressive 4.2%, reflecting a year-to-date increase of 6.2%.