{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Gold took us up \u2026 and Gold will take us down","description":"\ud83c\udf0d World Wide Markets Ep. 654 \u2014 29 October 2025 \ud83c\udf99\ufe0f \u201cGold took us up \u2026 and gold will take us down.\u201d \ud83e\ude99 Gold Takes the JSE for a Ride Gold led the JSE to record highs \u2014 and now it\u2019s leading it back down. Year-to-date returns: Gold +49 %, Harmony +87 %, Pan African +126 %, DRD +150 %, Gold Fields +162 %, AngloGold Ashanti* +167 %! Excluding dividends! Simon notes clear support around $3,600-3,800, with further downside likely. The Top 40 is up ~38 % YTD, but the Resources Index (Resi) is +93 % \u2014 remove that, and the market\u2019s ~20 %. Translation: half this year\u2019s gains came from gold \u26cf\ufe0f. When gold falls, the JSE will feel it. Simon spots a \u201ckangaroo-tail\u201d reversal candle \u2014 10 straight green months is unprecedented \ud83d\udcc9. Expect short-term weakness but the long-term gold story isn\u2019t over \u2014 deficits, inflation, and de-dollarization keep the bull case alive \ud83d\udcb0. For those who \u201cmissed\u201d gold, this pullback may be your chance \u2014 scale in slowly rather than catching the knife \ud83e\ude99\u2696\ufe0f. Top40 Monthly chart 2025 \ud83d\udca1 Optasia IPO Extended Fintech AI & machine-learning listing \u2014 application deadline extended to Thursday 30 Oct (lunchtime). Simon applied after FirstRand took a 20.1 % stake at R 19, top of the range \ud83d\udcbc. Despite muted enthusiasm from guests on Stock Watch, the institutional interest makes it intriguing \ud83e\udd16\ud83d\udcca. Allocation risk remains \u2014 expect to receive only a fraction \ud83c\udf9f\ufe0f. \ud83d\ude97 WeBuyCars: Market Hits the Brakes Trading update disappointed; share price \u221213.5 %. HEPS: 222 \u2013 226 c vs ~240 c consensus \u27a1\ufe0f P\/E \u2248 20 (\u201cfair\u201d). Was pricey at ~30\u00d7 earnings, now more realistic \u2696\ufe0f. Chinese car imports may start competing at lower price points \ud83c\udde8\ud83c\uddf3 \u2192 potential pressure on used-car margins. Still, for those who missed the run, this could be a re-entry point \ud83d\ude98. \ud83c\udfe0 Balwin Results Decent set of numbers \u2014 growth across Western Cape, KZN and Gauteng. No dividend \ud83d\udca7 \u2192 debt reduction focus. Sector tailwinds: lower rates + improving bond approvals (Uber = Ooba). Strong demand for mid-tier and affordable housing \ud83c\udfd7\ufe0f. Simon holds Calgro M3* in the same space. \u26cf\ufe0f Commodities & PGMs Holding Up Anglo American & Kumba raise guidance \ud83d\udc4d \u2192 stronger pricing and better rail flow. Valtera still recovering from floods, but higher PGM prices help. Platinum breakout \u2699\ufe0f $ 1 550 + after a decade range bound 850 \u2013 1 100. Palladium rebounding too ( $ 1 700 resistance ). Trend: higher highs and higher lows \ud83d\udcc8. \ud83c\udfea Pick n Pay: Slow Road to Recovery Still loss-making but loss shrinking \ud83d\udcc9. Adjusting for Boxer, cash and tax deferrals \u2192 valuation \u2248 \u2013R 3 billion (cheap on paper). Sean Summers cautious: recovery will be slower than hoped. Needs to win market share from Shoprite* \u2013 a tough battle \ud83d\uded2\ud83c\udd9a. \ud83c\udde8\ud83c\uddf3\ud83c\uddfa\ud83c\uddf8 US-China Trade & Tariffs Possible trade deal emerging \ud83c\udfaf \u2014 China may buy soybeans, ease rare-earth curbs. Perception = bullish for equities, bearish for gold (short term). US markets closing at record highs \ud83d\udcc8 \u2014 a deal would supercharge them. Meanwhile, US Supreme Court to decide whether Trump can impose tariffs unilaterally. Lower court said no \u2192 prediction markets expect he\u2019ll lose \u2696\ufe0f. Outcome could remove tariffs entirely \u2013 massive implications for trade and exporters. Retroactive refunds possible? Unclear \ud83d\udcb5\u2753 \ud83c\udfe6 Shift Migration Update Standard Bank Online Share Trading, AutoShare Invest and WebTrader are migrating to the Shyft app \ud83d\udcf2. Phase 2 migration this week \u2192 details at justonelap.com\/powerhour. If you haven\u2019t been contacted, your turn comes in 2026 (probably after March). Shift offers cheapest Forex rates and multi-asset access globally \ud83c\udf0d\ud83d\udcb3. \ud83d\udcac Final Thought \u201cGold gave us the party \u2014 and now it\u2019s calling last rounds.\u201d Expect volatility, opportunities, and reversals \u2014 but don\u2019t lose the big picture. Simon Brown \ud83c\udfa7 Worldwide Markets Ep. 654 | Powered by Standard Bank Global Markets & Shyft \ud83d\udc99 Look after yourself \u2014 and someone else too. Simon Brown * I hold ungeared positions. All charts by KoyFin | Get 10% off your order ","author_name":"WorldWide Markets with Simon Brown","author_url":"http:\/\/www.justonelap.com","html":"