The Rand is crashing against the major currencies today. As a result, people storing their savings in Rands in the banks have lost even more purchasing power.
If you own gold, you will be happy to know it is back to doing what it does best and acting as the ultimate store of value – the ultimate currency – no matter where you are in the world.
The Rand price of gold is up today to R13,647 per ounce, from R13,200 last night. In dollar terms, the price is up $30 in the last 20 minutes to $1,587.