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Why gold’s fall is no big deal for South Africa

Posted on 26 April 2013

South Africa is the world’s biggest gold producer after China, so you would expect this year’s 15.6 percent drop in gold to have a big impact. Instead the FTSE/JSE All Share Index is flat for the year.
According to the emerging markets economics team at HSBC, tumbling gold prices may give South Africa’s exports a knock, but the negative impact will be more than offset by cheaper oil imports………………………………………..Full Article: Source


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VRS - who has written 40203 posts on Opalesque Commodities Briefing.


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