News 18:00

BULLETIN 12 December 6 pm

Good afternoon. I am……..

In this bulletin:

# One dead and several trapped after four-storey temple collapses in Redcliffe, Durban
# Shamila Batohi blames omissions on oversight and rejects claims of sloppiness
# And, gold hits a seven-week high, bolstered by a soft dollar

# One person has died, and several others remain trapped after a four-storey temple under construction collapsed in Redcliffe, north of Durban, in KwaZulu-Natal. The exact number of people trapped is still unknown. Department of Cooperative Governance and Traditional Affairs spokesperson Senzelwe Mzila says disaster management and specialised rescue teams are on site, attending to the injured and working to free those caught beneath the rubble:

# The National Director of Public Prosecutions Shamila Batohi says omissions in the draft terms of reference for the Nkabinde Inquiry were the result of oversight, not dishonesty or sloppiness. Batohi added she acted in good faith and that the inquiry should focus on whether suspended Gauteng Director of Public Prosecutions Andrew Chauke pursued charges without enough evidence:

# South African expected inflation in 2026 has dropped to a 25-year low since Finance minister Enoch Godongwana announced a lower three-percent inflation target. A quarterly survey commissioned by the Reserve Bank found the average forecast for 2026 inflation at 3.8-percent and 3.7-percent in 2027, down from 4.2-percent previously. Some analysts predicted as low as 3.5-percent next year, reflecting increased confidence in achieving the lower target. This shift could influence future interest‑rate decisions by the South African Reserve Bank.

In other financial developments, gold prices rose to a seven-week high today, bolstered by a soft dollar and an increase in American unemployment. Spot gold rose to four-thousand-333-dollar-8-cents per ounce by lunchtime in South Africa, its highest level since October 21, and set for a 2.7-percent weekly gain. The dollar hovered near a two-month low and was on track for a third straight weekly drop, making bullion more affordable for overseas buyers. The US Federal Reserve trimmed rates by 25 basis points on Wednesday, benefitting assets such as gold.

# Tennis: Former Swiss great Roger Federer will headline the inaugural opening ceremony of next month’s Australian Open in Melbourne. The event on the 17th of January will feature a doubles match between Federer and three other former world number ones, Australians Pat Rafter and Lleyton Hewitt, and four-time champion, American Andre Agassi. There will also be a tribute to Federer, who won the Norman Brookes trophy six times among his 20 Grand Slam titles.  

# And the financial indicators: The dollar trades at 16-rand-86-cents and the euro at 19-rand-77-cents. One British pound costs 22-rand-53-cents and Bitcoin trades at 92-thousand-276-dollars. Gold sells at four-thousand-340-dollars-34-cents a fine ounce and Brent crude oil is quoted at 60-dollars-97-cents a barrel.

Stay tuned for more news………….