Gold Tops $700

The price of gold - a South African economic bellwether since the late 1800s - has breached the $700/ounce mark for the first time in decades, staking out yet more pasture for local business bulls to romp around in.

South Africa is the world’s largest gold producer, and its economy is heavily influenced by precious-metal production. A strong gold price means a strong rand (the name of our currency) - which, in turn, means that visitors to SA have to search a bit harder to find real bargains.

Here’s one: why not toast “the great gold comeback” with a bottle of Pongracz sparkling wine, which goes for just R60/$10/£6 in most supermarkets? Comparable champagnes cost three times that much in foreign parts!

• Follow the gilt-edged story: M&G | Mining Weekly | Google News

By Ben | Permalink

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