Zuko Komisa

- The gold price has surpassed a historic $5000 per ounce, driving South African precious metals shares to record-breaking valuations.
- Mining giants Sibanye Stillwater and AngloGold Ashanti have seen gains exceeding 400% and 310% respectively since January 2025.
- This commodity rally propelled the JSE All Share Index past the 124 500 level on Monday, marking a 46% rise in just over a year.
The relentless surge in gold equities that dominated the markets last year has accelerated into 2026, propelled by a historic milestone in the precious metals sector.
For the first time, the price of gold has shattered the $5000 per ounce barrier, sparking a massive rally that has sent mining stocks to unprecedented peaks.
This bullion boom has fundamentally reshaped the local bourse.
On Monday, the JSE All Share Index (ALSI) soared past the 124 500 mark, continuing a meteoric ascent after first crossing the 100 000 threshold in July 2025. The index has climbed a staggering 46% since the start of last year.
The individual performances of South Africa’s mining heavyweights have been nothing short of spectacular.
Sibanye Stillwater has led the charge with a gain of over 400% since the start of 2025, while AngloGold Ashanti and DRDGold have followed suit with surges of 310% and 281% respectively.
Andre Cilliers, Currency Strategist at Treasuryone joined Kaya Biz to help Kaya 959 listeners understand the impact of this on businesses, importers, and consumers in South Africa.
Listen to the full conversation here:
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