Volatile gold, silver and platinum prices rocked the JSE on Friday morning, with the bourse’s benchmark FTSE/JSE All Share Index plunging over 2.5% in the first hour of trade, and weakening further, trading 3.5% down by midday. It recovered some losses later, trading around 3% down.

A more than 9% dive in the Resources 10 Index, which represents precious metals, drove the JSE and the rand lower on the day.

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The rand weakened back above the R16 to the US dollar mark at one point, while the JSE Top 40 Index fell by almost 3.5%.

Gold plunged over 5.5% on Friday to below the key $5000 an ounce mark for a while, from its record of over $5 500/oz early on Thursday. The plunge came in the wake of news that US President Donald Trump is set to pick Kevin Warsh as the next Federal Reserve chair, which also saw the dollar rise. Warsh was confirmed by Trump later on Friday.

Silver and platinum both plummeted over 13%.

JSE-listed gold and platinum stocks, including AngloGold Ashanti, DRG Gold, Valterra Platinum, Northam Platinum and Harmony Gold, all plunged around 10% on Friday morning.

Sibanye-Stillwater and Impala Platinum fell around 8%, while African Rainbow Minerals, Gold Fields and Alphamin Resources Corp lost over 6%.

Gold and platinum group metals (PGM) counters were the 10 biggest losers on the JSE in morning trade.

All eyes are on where the JSE closes today. After ending Thursday at 125 249 points, Africa’s largest bourse fell below 121 000 at one point on Friday, though it remains more than 4% higher year to date. 2026/01/30, 16:55:00

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