Economy

SA assets gain as gold climbs

Date: May 23, 2025

South Africa's (SA) Rand, stocks and government bonds strengthened on Friday, boosted by higher gold prices as worries over the United States' (US) worsening fiscal health sent investors into the safe-haven asset.

At 11h29 CAT, the Rand traded at 17.9150 against the Dollar, 0.5% stronger than Thursday's closing level. SA is a major producer of precious metals and benefits from higher gold prices.

Gold prices rose on Friday and were poised for their biggest weekly gain in more than a month, as a softer US dollar and concerns over the country's fiscal outlook boosted bullion's safe-haven appeal.

On the stock market, the Top-40 index was last up 0.7%.

SA's benchmark 2030 government bond was also stronger in early deals, with the yield down 2.5 basis points to 8.87%.

--Reuters--

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