Interesting article Simon. It illustrate my point , gold is a useless metal, yet everyone is drawn to it uselessness. I rather be an investor in plats. I am aware people say trade the price, follow the trends, but anyone with a logical mind will say , why? It is a useless metal. "It gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head."
But seriously now, historically gold was used as a hard currency, and that has just carried forward today for the banks in particular. It is easier for us to carry notes around, and the banks keep the gold in the holes for safe keeping.
I wonder how accurate the MR index really is as a barometer of economic, what it does say is that road is the preferred mode of goods transportation as opposed to rail.My office is less than 100 meters from the main Dbn - Jhb line and at times I think we could actually have a lunchtime braai on the tracks and the chances of getting hit by a train are minuscule.South African ports have become some of the most expensive in the world, and many shipping lines are giving us a miss if they can, especially if they need to come in to receive spares and are now using West African ports instead. A number of shipping agents have closed up shop and the remaining ones have cut staff or moved them to Maputo and Beira. Grindrod (Durban based co.)have got involved in the Maputo harbour big time, maybe they've seen the writing on the wall for some time. I wonder how long before the Maputo - Jhb link gets on a par as Dbn - Jhb run.Talking about GND, I see they've shown a little jump ahead of tomorrow's results.