The JSE is around 1% up in May and the top 40 index is up 2%.
The Rand is not performing as well as the JSE right now, down almost 11% for the month trading at R15.73 to the dollar. This poor currency performance is propping the volatile gold index up quite nicely too. The gold price is sitting at around $1,240 an ounce however, the precious metal is down significantly since march this year.
Silver is also on its way up at $16.57, platinum is at $1,024.40 and palladium is at $566.10. Palladium fell hard this week, down 4.7%.
The truth is, anything could happen in the markets this week. It’s important to keep your eye on political factors that could dramatically wipe out any of the gains we’re seeing right now.
Look, I’m not being sceptical, I am just concerned that the recovery’s we’re seeing right now won’t last, especially if more political rumours come from the National Treasury.
Just look at what happened last week, when the news about Pravin Gordhan’s arrest hit the markets. The rand took a hard knock. The same thing happened when our president replaced our finance minister late last year. The rand is still recovering from that debacle.
It’s also important to remember that South Africa has slipped to the . Despite all the political unrest and increased violence, the Egyptians managed to beat South Africa.
I’ve heard very little from our government on how they plan to correct this serious problem.
That’s why now more than ever, we need to focus on protecting our wealth, investments and our future. To get your hands on all the best asset protection strategies at the next South African Investor member meeting, you must be a member of the