The six resources stocks among South Africa’s “Magnificent 10” are shining on the back of gold and platinum strength, but can the rally withstand US inflation, China’s demand shifts and local logistics woes? Host Jeremy Maggs asks Osa Mazwai, investment strategist at Investec Wealth & Investment International and Campbell Parry, commodities and natural resources analyst at Investec Investment Management in this episode of No Ordinary Wednesday.
Podcast key moments:
00:00 - Introduction
02:03 - South Africa’s fiscal position and Transnet challenges
04:16 - Performance of South African resource stocks
06:38 - US inflation and global spillovers
08:40 - Metals outlook: gold, copper and thermal coal
10:14 - Rate cuts and ripple effects on metals
11:31 - South Africa’s “magnificent 10”
13:18 - Treasury's breathing space from precious metals
15:22 - Global investor perceptions of South Africa
16:48 - Global demand dynamics and tariff pressures
19:05 - Building fiscal resilience beyond commodities
20:46 - Commodities investment outlook
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