Lates News

The South African stock market saw its biggest decline since March 2020, along with a continuous expansion of the decline in precious metal prices. The Johannesburg Stock Exchange All Share Index fell as much as 6.1% on Monday, with precious metals and mining sub-indices leading the decline. Mining giants such as Sibanye-Stillwater, Gold Fields, and Anglo American Platinum all saw declines of at least 17%. The South African stocks, which had just ended an 11-month record high, are now being engulfed by the selling pressure of precious metals. The price of gold, which had reached nearly $5,600 in January, plummeted by 10% on Monday to briefly fall near $4,400 per ounce. Following a record 26% decline on Friday, silver prices fell by as much as 16% again on Monday.