Global markets opened the week on a mixed footing, with oil prices slipping on signs of easing supply risks, while gold edged higher amid renewed trade uncertainty.
Crude prices dipped after reports that nuclear negotiations between the United States and Iran are set to resume later this week. The prospect of talks has raised expectations that additional Iranian supply could return to the market, tempering immediate concerns over global shortages.
Gold, meanwhile, strengthened after a setback to tariff plans linked to former US President Donald Trump revived uncertainty around international trade agreements, prompting investors to seek traditional safe-haven assets.
Closer to home, sentiment appears to be improving in South Africa. Finance Minister Enoch Godongwana is expected to outline progress in stabilising public finances this week, developments that analysts say could support a more favourable sovereign credit-rating outlook. A survey by Bloomberg suggests the improvements may pave the way for a positive reassessment of the country’s fiscal trajectory.
Market snapshot:
- USD/ZAR: 16.02
- GBP/ZAR: 21.61
- EUR/ZAR: 18.89
- Gold: $5,215.28
- Platinum: $2,144.72
- Brent Crude: $71.50
- All Share Index: +6.21% year-to-date
- S&P 500: +0.94% YTD
- FTSE 100: +7.37% YTD
- MSCI All Country World Index: +2.49% YTD
- MSCI Emerging Markets Index: +11.68% YTD
Analysts say investors will be closely watching both geopolitical developments and domestic fiscal signals for further direction in the days ahead.