Business News Today
Precious Metal’s Surge on Global Instability
Gold prices rose lifted more than 1,2% to above $4,570 per ounce this morning, reaching a fresh record high on growing geopolitical risks and concerns over the Federal Reserve’s independence. Iran’s parliament speaker on Sunday warned the US and Israel against any intervention after President Trump threatened strikes amid widespread protests in Iran that have reportedly killed hundreds of people. Meanwhile, Fed Chair Jerome Powell revealed that the Department of Justice has served the central bank with subpoenas and threatened it with a criminal indictment over his testimony this summer about the Fed’s $2.5 billion renovation of two office buildings before the Senate last June.
Additional support came from expectations of more US interest rate cuts after Friday’s data showed December job growth slowed more than forecast. Likewise Platinum prices have surged by over 3.6%, and palladium is up by 3.6% today. Silver futures are up by more than 4.4%- also hitting fresh highs, while Lithium has spiked by over 8.5% today as markets consider the possibility of major disruptions in supply with China announcing greater Lithium use in rolling out EV charging stations.
Discovery Health does an About-Turn on Error Payments
Discovery Health, South Africa’s largest medical aid, and chief operating officer of Discovery Health, Karen Sanderson’s attempt to reclaim payments made in error for medications that should not have been paid has caused a backlash of note. Last week letters were sent out to over 16 000 discovery healthcare members indicating that a “system error” had resulted in medication claims being incorrectly paid out last year and that these would be recovered from members.
No apology or explanation was provided and the 16500 members affected were expected to pay the amount (estimated at around R100 million in total) back, agree to a payment plan or else have the amount deducted from savings or from future claims. The public response was understandably severe with many complaints across social media. The group’s statement made yesterday indicates a complete about-turn saying “Covering this cost is the right decision, one that reflects our commitment to fairness, integrity and putting members first, especially when we fall short.”
African Inflation- Positive Downward Trend
In a growing trend line across the African continent, Angola’s annual inflation rate eased further to 15.70% in December 2025, the lowest since September 2023, from November’s 16.56%, continuing the pattern observed since August 2024. The stability of the kwanza has been crucial. Prices slowed down for most categories, primarily food & non-alcoholic beverages. Meanwhile Egypt’s annual urban inflation rate stood at 12.3% in December 2025, unchanged from the previous month and below the market forecast of 12.5%, as the impact of higher fuel prices in October faded.
The latest reading came despite food inflation, a major component of the inflation basket. Inflation has moderated in most major African economies over the last six-month period. Sub-Saharan Africa’s median inflation fell from aproximately 4.5% in 2024 to 4% in 2025, driven by stable currencies, lower food/fuel prices, and tighter monetary policies. Out of the top ten economies, eight showed clear decreases or stabilisation at low levels (e.g., Ghana’s sharp drop from 12.1% in July to 5.4% in Dec).
Breaking News Shorts:
- SpaceX has received approval to launch an additional 7,500 of its second generation Starlink low-orbit communication satellites, to raise the total they have to 15,000 satellites worldwide.SpaceX will need to launch 50% of the approved Starlink satellites by December 1, 2028, and the remaining 50% by December 2031.
- Egypt has signed renewable energy deals worth a combined $1.8 billion, this is according to a report on Egyptian state TV yesterday. Norwegian renewable energy developer Scatec and China’s Sungrow were among the companies the Egyptian authorities have penned deals with, aiming to hit the country’s goal of 42% of their energy generation via solar.
- A Japan Government backed mining group has launched an ambitious project to mine rare earth minerals from the seabed. The project has taken seven years to develop and the mining ship test vessel, the Chikyu will be seeking to extract rare earth minerals at depths of up to 6km below the surface, close to a small coral atom island – the Minamitori Island – situated in the easternmost territory belonging to Japan, and the only Japanese territory on the Pacific Plate.
- Indonesia’s retail sales rose 6.3% year-on-year in November 2025, accelerating from 4.3% in the previous month and marking the seventh straight month of growth. It was also the fastest annual increase since March 2024, underscoring stronger consumer demand toward year-end as government support measures continued to bolster spending.
- The dollar index slipped to around 98.9 this morning, ending a four-day rally after federal prosecutors opened a criminal investigation on Federal Reserve Chair Jerome Powell, putting the central bank’s independence into question. Powell has described the threat of criminal charges as “pretexts” aimed at pressuring the Fed to align policy with the Trump administration’s preferences
Markets by Numbers
Currency markets indicate the US dollar marginally weaker today after a three-day rally, with the Euro trading against the US dollar at 1.16665 while the Pound is trading at 1.34332 to the US dollar. The Yen is currently trading at 158.06 to the dollar. The rand (ZAR) has strengthened slightly and currently trading at around R16.47 to the dollar.
Commodities:
- Gold futures are currently up over 1.5% this morning, hitting new highs, and currently selling at around $4580.00 per ounce.
- Copper prices are trending 1.56% higher today, with prices currently around $5.9470 per pound
- Silver futures have surged by over 5.4% today, and currently trading around $84.180 per ounce.
- Platinum futures have spiked by over 4.2% this morning, and currently trading at $2395.00, While Palladium prices are up by around 4.4% this morning, and currently trading around $1953.50 per ounce.
- Brent crude oil prices are trending marginally higher today, and currently at $63.43 with WTI trading at $59.16
- Cocoa futures are trending -0.6% lower today, and currently trading around $5312.00 per ton.
- Coffee futures are currently -0.45% lower today, and trading at around $3.5603 per pound
Crypto Currencies:
- Bitcoin prices are trending 1.3% higher this morning, and trading at around $91979 per coin currently
- Ether prices are trending 1.1% higher today, and are currently trading around $3153.71
- $Trumpcoin are trending upwards today, and currently trading around $5.471
(All prices quoted at approximately 07H45 Central African Time)
Africa News Briefs:
- The U.N. Human Rights Office report has indicated that the presidential election in Uganda next week would be “marked by widespread repression and intimidation” against the opposition and others.Ugandan authorities, have used “lawfare”, including military legislation, to restrict the activities of politicians and others in opposition leading up to voting on Jan. 15. The report also cites the ongoing detention of opposition figure Kizza Besigye, who is accused of treason, and Sarah Bireete, a prominent civic leader who is accused of obtaining unlawful access to the national voters’ registry. Both are detained in a maximum security prison in Kampala, the Ugandan capital.
- Chinese, Russian and Iranian warships launched a week of naval drills with host South Africa off the Cape Town coast last Friday. The Chinese-led drills were organised last year under the Brics developing nations bloc, and South Africa’s armed forces said the manoeuvres will practice maritime safety and anti-piracy operations and “deepen cooperation.”
