George Glynos Quotations

We have seen a recovery in the gold price and commodity currencies have consolidated slightly off their lows, which bodes well for rand resilience. The rand could trade closer to 6.20/22/US$.

There is a socially responsible reason for wanting to redistribute land and foreigners may be purchasing land in rural areas where the government wants to redistribute.

The rand is coming under a bit of pressure on the back of very strong retail sales data out of the US, but I'm not expecting it to weaken too much further given that the Budget tomorrow is taking centre stage with the locals. It should remain in a 6.12 to 6.20 range.

We would expect the rand to test levels of 6.22/23 to the dollar and consolidate around there.

Every person that has come in this morning has been talking about the cricket. It's all that matters at the moment.

The strengthening trend is very much intact. I'd be very reluctant to buck the trend. It's very much driven by the commodities, with platinum approaching $1,000.

Speculators feel comfortable again about buying the rand and we're seeing an unwinding of weakness early last week, which was not fundamentally based.

Oil prices tend to fuel inflationary fears, and as they fuel these fears funds so investors tend to look for an inflation head. In this situation they have looked towards gold as that inflationary head. As oil prices have gone up we have seen an increase in metal prices.

It's a terrible number but typical at the start of the year when you get a replenishment of inventories which boosts imports. But we are also still seeing the affects of the strong rand.

It's mainly the commodity play that's keeping the rand resilient.

It should remain in a 6.12 to 6.20 range.

Supposedly a corporate order went through the market this morning. It squeezed a couple of guys who were sitting short dollars and triggered a few stops and the rand popped up to the top (weakened).

If you look at the historical volatilities of the rand you'll find they have declined through the year.

If you look at the historical volatilities of the rand you'll find that they have declined through the year.

The underlying fundamentals for both gold and platinum remain strong, which should keep prices relatively buoyant.