I posted this on RSG because I thought the goldie has an operation in South Africa.
I want to ask you if you can suggest any South African goldies listed in Australia.
I think the pog will surge hard too but the no. 6 view is partially wrong.
Please give me a suggestion about S.A. goldies then I'll leave an idea.
Risk Aversion
The South African currency, which dropped 25 percent last year, has been hurt by a slump in commodity prices, lackluster economic growth and rising U.S. interest rates. Losses in the rand accelerated in December after President Jacob Zuma unexpectedly fired his finance minister only to alter the decision days later, while the tumultuous start to the year in China has further damaged sentiment. South Africa sold 37 percent of its exports to China in 2014.
South Africa’s benchmark FTSE/JSE Africa All-Share Index dropped 1 percent to 47,634.45, the lowest since Dec. 14, as more than five securities tumbled for every one that rose. Yields on rand-denominated government bonds jumped 17 basis points to 9.71 percent.
“The huge spike in risk aversion last week, poor liquidity and position liquidation have hit the rand,” said Robert Rennie, the global head of currency and commodity strategy at Westpac Banking Corp. in Sydney. The rand plunged to its all-time low shortly after midnight in Johannesburg. Data compiled by Bloomberg showed that offers to buy the rand against the dollar dried up around 7:04 a.m. Tokyo time.
China strengthened the yuan’s reference rate slightly for a second day on Monday after an eight-day run of reductions that sent shock waves through financial markets, while swings in local asset prices have revived concern about the government’s ability to manage an economy set to grow at the weakest pace since 1990.
The South African Rand crashed 10% to a record low against the USD of 17.9169. This 10% collapse is the largest on record outside of the immediate post-Lehman move...
