HILARY JOFFE: SA should not waste the gold boom
Though nowhere near the global leaders nowadays, gold still employs about 93,000 people and is still one of SA’s largest export earners
28 April 2023 - 05:00
Gold was trading at more than $2,000/oz this week. It has gained almost 20% over the past six months, at a time when most would have expected rising US interest rates to drive the gold price down.
That seems to reflect a new appetite for gold by the world’s central banks, particularly emerging market central banks. Though SA is no longer the pre-eminent gold producer it once was, it should be nurturing its gold industry to ensure it can make the most of the trend. ..
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