Frequently asked questions:
What is the price of gold in South Africa?
The current spot price of gold in South Africa is R28 115.25/oz. Gold began the year at R21 238.20, up from R18 417.80 a year earlier. The price of gold in South Africa is also heavily impacted by the fluctuating Rand / Dollar exchange rate.
What is the highest price of gold in history?
The highest price of gold ever was on September 6, 2011, when it briefly touched $1 928/oz. Gold’s recent high of $1 675/oz., breached on March 6, 2020, was the precious metal’s highest trading value since February 11, 2013 – a price high of over 7 years.
Is gold cheap in South Africa?
Even after decades of gold mining in South Africa, there are still gold projects where it is mined cheaply. At Pan African Resources’ tailings retreatment plants, Barberton and Elikhulu, gold is mined at all-in sustaining costs of just $643/oz. and $708/oz. respectively.