The rising gold price, the weak Rand that just can’t lift its head, coupled with the uncertainty over the country’s economic situation, has moved investors away from the money unit.
Currently, Investgold is selling up to 5,000 gold coins per week, which is a strong indication that confidence in the Ramaphosa regime is continuing to decline.
Gold mining companies have also begun to focus on the trend of a gradual upturn in the price of precious metal, which has now reached its high price over the past five years.
The Rand, which is also showing its worst against the dollar since 2016, has forced investors to play safe and trust gold instead.
In November last year, the gold price was still at $ 1,150 an ounce, but is currently at $ 1,526, which is the highest for the past decade.