“Wherever we see opportunities to add to our Tier 1 portfolio, we’ll be right there in front of the queue,” he said, but added: “The most important thing is exploration and organic growth.”
While the spot gold price has come off a record high hit in August, it is still up a whopping 27% so far this year at $1,931 an ounce
Yesterday’s South Africa’s GDP data for the second quarter revealed that The mining and quarrying industry decreased by 73.1 per cent as the demand for mineral products fell as global markets entered into strict COVID-19 lock-downs; contributing to decreased production in platinum , gold and other metals. However we are seeing a glimpse of recovery for South African miners as they are posting above average results and production increases. Peter Major, Mining Director at Mergence Corporate Solutions joins CNBC Africa for more.
As economies struggle amid the COVID-19 pandemic, gold has been making history. Investors are flocking to the safe-haven investment, as volatility rises in the markets. The price of the yellow metal broke the $2000 mark last week. The question is, what impact will this gold bubble have on African economies? Neville Mandimika, Sub-Saharan Africa Economist at Rand Merchant Bank joins CNBC Africa for more.
For centuries, gold has remained one of the most precious currencies in the world. It is the only currency that has managed to wade through recessions around the world. It is the only safe haven that assured one of secure wealth. CNBC Africa spoke to the Head of Markets at Absa Kenya, Anthony Kirui for more.
A bit of history has been made in the last 24 hours, as gold has it a record $2000 an ounce. As volatility rises in the markets, so does demand for the safe haven investment. So where is gold going now? Adrian Saville, CEO of Cannon Asset Managers joins CNBC Africa for more.
(Reuters) - Gold soared over 2% to its highest ever on Monday as heightened U.S.-China tensions hammered the dollar and sped up a flight to safety among investors concerned that...
The yellow metal is also helped by aggressive monetary easing around the world since the pandemic plunged the global economy into a recession.