Market Update – Monday, 17 February 2026
Good morning from Old Mutual Secunda! Here’s your market snapshot to start the week.
📊 Market Overview
| Indicator | Value | Change |
|---|---|---|
| 🇿🇦 USD/ZAR | R16.04 | +0.38% |
| 🥇 Gold (USD) | $4,908.82 | -1.65% |
| 📈 JSE All Share | 120,493 | -0.41% |
| 💰 SA Repo Rate | 6.75% | Unchanged |
| 📉 SA Inflation | 3.6% | Dec 2025 |
🇿🇦 Rand Holds Strong
The South African rand is trading around R16.04 per dollar, remaining close to its strongest levels since June 2022. The currency has strengthened over 12% in the past year, supported by:
- Rising commodity prices, particularly gold, platinum, and silver
- Contained inflation within the SARB’s target range
- Upcoming Budget 2026 announcement generating market interest
🥇 Gold Pulls Back
Gold retreated 1.65% to $4,908.82 after its recent rally. Despite today’s pullback, gold remains up over 67% compared to the same time last year. Analysts project gold could reach $5,094 by quarter-end.
📈 JSE Slightly Lower
The JSE All Share Index eased 0.41% to 120,493 points. Despite today’s decline, the index is up an impressive 35% over the past 12 months. Traders remain cautious ahead of the upcoming budget speech.
🔑 Key Developments
- Budget 2026: Announcement expected later this month — markets watching closely
- Energy reforms: President Ramaphosa announced significant electricity sector reforms
- Crime crackdown: Military support pledged to combat organised crime affecting economic growth
- Unemployment: Q4 2025 data expected soon (currently at 31.9%)
💡 What This Means For You
A stronger rand is good news for inflation and import prices. However, market volatility ahead of the budget means now is a good time to review your financial plan and ensure your investments are properly diversified.
Questions about your investments? Contact Old Mutual Secunda on 017 620 3990 or book a consultation.
📚 Related Services
• Investment Solutions
• Retirement Planning
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