It is hard to believe that the rand and the gold price could be doing so well while it feels like the global economy is ready to collapse on the back of volatile geopolitics. But there it is: the rand trading at R16.45/ this afternoon, while the price of gold sits at a high of 4 447.48.
The rand strengthened below R17/ in November for the first time since February 2023 after the Medium Term Budget Policy Statement MTBPS that included a lower inflation target and an improved fiscal outlook.
This is why the rand is doing so wellSanisha Packirisamy, chief economist at Momentum Investments, says the rand performed well on the back of a number of reasons:
