Markets LIVE: Rand closes at R15.44/$ | Fin24

Markets LIVE: Rand closes at R15.44/$

2019-08-22 08:30

The rand closed at R15.44/$ on Thursday.

Financial data analysis graph showing global marke

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Last Updated at 14:07
22 Aug 17:35

The rand closed at R15.44/$ on Thursday.

USDZAR 15.2448

EURUSD 1.1083

EURZAR 16.8874

GBPUSD 1.2249

GBPZAR 18.6640

AUDZAR 10.3034

CADZAR 11.4548

CNYZAR 2.1503

ZARJPY 6.9787

CHFZAR 15.4850

R186 8.28%

US 10 Year 1.59%

JSE -0.78%

FTSE -1.34%

S&P 500 -0.59%

Gold 1 500.63 

Plat 858.07 

Plad 1 482.40 

Rhod 3 945.00 

Irid 1 470.00 

Ruth 248.00 

Copp 5 668.00 

Brent 59.76 

Gold ZAR 22 865.34 

Plat ZAR 13 074.64 

Brought to you by TreasuryONE

22 Aug 09:47

Investors hoard most gold in ETFs in six years

Ranjeetha Pakiam, Bloomberg

Gold’s faring extremely well as a haven asset, with inflows into exchange-traded funds hitting 1 000 tons since holdings bottomed in early 2016 after a prolonged unwind in the wake of the global financial crisis.

Total known ETF holdings expanded to 2 424.9 tons on Wednesday, the highest since 2013, following inflows over the past three years and a continued build-up in 2019, according to data compiled by Bloomberg.

Current assets are about 1 000 tons higher than the post-financial crisis nadir of 1 425.1 tons.

Gold has surged this year as investors seek protection from slowing global growth, the incessant trade war, and turmoil in the bond market that suggests the U.S. may be headed for another recession.

The rise has been aided by a rate cut from the Federal Reserve and expectations more will soon follow. This week, veteran investor Mark Mobius gave a blanket endorsement to buying bullion, saying accumulating the precious metal will reap long-term rewards. Others are also bullish.

Goldman Sachs Group has said prices will climb to $1 600 an ounce over the next six months. The bank’s global head of commodities research, Jeffrey Currie, said that gains are likely be fueled by demand for ETFs as well as increased central-bank purchases. Spot gold traded at about $1 500 on Thursday, up 17% this year.

22 Aug 08:31

Stocks drift as traders mull Fed; US yields dip

Adam Haigh

Futures in the US and Europe dipped and stocks in Asia drifted Thursday as investors found little in minutes from the Federal Reserve’s latest meeting to alter expectations for more aggressive interest-rate cuts.

Treasury yields edged lower and the yuan weakened. Hong Kong saw the biggest losses, and China fluctuated. Japan closed flat.

Trading activity has been reduced this week ahead of Fed Chairman Jerome Powell’s address on Friday and volume was again subdued in Treasury futures. The benchmark 10-year yield continued to fluctuate and dipped Thursday to 1.57%. The dollar was little changed.

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