Central banks are dumping the dollar for gold, and SA has left its 48,000 tons untouched episode artwork

EPISODE · Sep 9, 2026 · 28 MIN

Central banks are dumping the dollar for gold, and SA has left its 48,000 tons untouched

from BizNews Radio · host BizNews

South Africa has already mined a quarter of all the gold ever pulled out of the ground, and it still has 48,000 tons sitting under the Witwatersrand. So why has annual output collapsed from 1,000 tons to 88? Dr Duarte da Silva, once South Africa's go-to tech guru and now a gold analyst, tells Alec Hogg why central banks are dumping dollars for gold, why he thinks the Witwatersrand's "death" has been declared four times and been wrong every time, and why he calls the way mining majors offload worked-out shafts onto smaller players "nothing short of criminal." He also doesn't hold back on Stilfontein, on JP Morgan's call for 20% gold portfolios, and on why, despite everything, he's not touching crypto.

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Central banks are dumping the dollar for gold, and SA has left its 48,000 tons untouched

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