Central banks are dumping the dollar for gold, and SA has left its 48,000 tons untouched

Loading player...
South Africa has already mined a quarter of all the gold ever pulled out of the ground, and it still has 48,000 tons sitting under the Witwatersrand. So why has annual output collapsed from 1,000 tons to 88? Dr Duarte da Silva, once South Africa's go-to tech guru and now a gold analyst, tells Alec Hogg why central banks are dumping dollars for gold, why he thinks the Witwatersrand's "death" has been declared four times and been wrong every time, and why he calls the way mining majors offload worked-out shafts onto smaller players "nothing short of criminal." He also doesn't hold back on Stilfontein, on JP Morgan's call for 20% gold portfolios, and on why, despite everything, he's not touching crypto.
9 Sep 4AM English South Africa Investing · Business News

Other recent episodes

Preloved boots give Eastern Cape township rugby a boost

Across the Eastern Cape, boys and girls run onto rugby fields in their school shoes or a pair of tekkies. Lincoln Mali, founder of the Mzwandile Mali Schools Rugby Champions League, tells BizNews how a visit by businessman Paul Gardiner to Kwanobuhle township led to Boots for Boys and Girls,…
6 Nov 7AM 15 min

Solly Moeng: Mashaba and Zille, MK's rise, FF Plus, Malema

One day after the Local Government Elections in South Africa, in this interview with Chris Steyn - just after four o'clock and with 43% of the results in - political commentator Solly Moeng says Action SA leader Herman Mashaba and his party leadership need to listen to calls from voters…
5 Nov 11AM 26 min

BizNews Ricardo Portfolio update: Palantir, Uber, Lesaka, and Exemplar

Four companies BizNews owns reported in the same week, so Alec Hogg went back to his own valuations to see whether they still held. Palantir nearly doubled its revenue and its chief executive declared his intent to take "the entire market", yet one number nagged at Alec. Uber delivered a…
5 Nov 10AM 41 min