Financial Indicators (NOW)

The gold price continues to step up in tandem with the oil price as global uncertainty picks up. It seems what's bad for the world is good for South Africa, including the demise of the dollar. Ameerican kerfuffling in Iran is also propelling that nation (and Russia) to make oil transactions in Euro's rather than the dollar. China has also decided to push more of its investments into the Euro. And why not?

Gold 832.65 Up 0.23%
Platinum 1457.00 Up 1.29%
Brent Crude Oil 94.65 Stable 0.00%
Rand - US Dollar 6.4880 Down 0.18%

‘Powerful cocktail’ puts gold in sight of $900

Oil Marches Toward $100 (ECONOMIC ANALYSIS)

Right now, Brent Crude is:
Brent Crude Oil :91.46
Rand - US Dollar: 6.6100

Oil prices breached the $96 before retreating marginally. Analysts are now saying that $100 is an 'easy target'.

Meanwhile, from South Africa's point of view, the prices of Brent Crude are less of a concern given that the dollar has depreciated down to around 6.50. Had the dollar been at around 7.50, we'd have been in big trouble.

The question is, why has the Rand strengthened so much, and is it good for the country. The $5.5 billion deal - the largest ever overseas investment in South Africa - between the world's largest bank (based on China) and Standard Bank, represents a massive capital injection into the relatively small pool of South African capital. This is the main reason behind our stronger currency. The deal was timed very fortuitously indeed.

Meanwhile the strengthening Rand is bad news for exporters. Since South Africa derives plenty of its income from exports - especially minerals - the currency fluctuation remains a concern.

Today decision makers will come together to decide whether there will be a fuel increase for motorists, and if so, how much it is likely to be.

R/$ and Brent Crude Prices (LATEST)

Rand - US Dollar : 6.5300
Brent Crude Oil : US$ 88.41

Global climate points to interesting times for SA

NVDL: No doubt more interesting than we can conceive...

ALERT: Oil prices break through $93 mark

Oil prices have risen to fresh highs due to a combination of the weak dollar, supply concerns in Mexico and continued tensions in northern Iraq.

In early Asian trading on Monday, US light crude broke through $93 a barrel for the first time, hitting $93.20 before easing back slightly to $93.06.

London's Brent also hit a new high of $89.90 a barrel, up $1.21.
Some analysts believe oil prices will hit $100 a barrel before the end of 2007 if current pressures persist.

Taking inflation into account, prices are still below the peak of $101 a barrel seen in 1980.

The US currency has fallen to a fresh low against the euro, making oil - which is priced in dollars - attractive to buy, analysts said.
For the rest of this BBC story, here.

NVDL: At $100/bbl Gauteng drivers will pay R9/l at current exchange rates.