https://newsletter.mw.creamermedia.com
Africa|Gold|Underground|Environmental
Africa|Gold|Underground|Environmental
africa|gold|underground|environmental

Gold’s strong price is good for the South African economy

6th September 2024

By: Martin Creamer

Creamer Media Editor

     

Font size: - +

The gold price has seemingly rebased beyond previously expected levels amid ongoing geopolitical and central bank demand for the precious metal. The record highs reached by gold appear to be the result of some countries paying in gold rather than dollars and Asian countries buying physical gold through exchange-traded fund mechanisms.

Even though South Africa is no longer the gold leader it was in decades past, it continues to rank among the global top-ten, which is of considerable benefit to our economy. Interestingly, the high grades of gold in deep underground mines continue to impress and the recovery of gold from old mine dumps is not only creating considerable wealth, but is also stimulating important environmental and land re-use advances.

If dedollarisation continues and meaningful institutional buying arises, the gold price could remain at the high end for a much longer period than originally anticipated. Moreover, many see a reset below $2 000/oz to be less likely than the current price showing more upside, which is a major plus for our gold miners and refiners.

To watch Creamer Media's latest video reports, click here
 

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

Comments

Showroom

John Ratcliffe
John Ratcliffe

At John Ratcliffe, we are aftermarket specialists for heavy-duty on and off-road vehicles. We engineer and retrofit advanced safety systems, engine...

VISIT SHOWROOM 
Environmental Assurance (Pty) Ltd.
Environmental Assurance (Pty) Ltd.

ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On-The-Air (15/11/2024)
15th November 2024 By: Martin Creamer
Magazine round up | 15 November 2024
Magazine round up | 15 November 2024
15th November 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:6.796 6.925s - 127pq - 2rq
Subscribe Now