JSE All Share Drops 1.73% as Gold Tanks to $5,040.8
The Johannesburg Stock Exchange closed the week of March 13, 2026, in negative territory, with the JSE All Share falling 1.73% to 114,924.21 points and the Top 40 declining 1.83% to 107,285.27 points. The drop was largely driven by a brutal selloff in the mining sector, particularly gold miners, as spot gold prices dropped 1.5% to settle at $5,040.8 per ounce. The precious metal's weakness occurred despite heightened geopolitical volatility, with investors seemingly favoring US dollar liquidity as USD/ZAR climbed 1.87% to 16.8866.
Market Context: Unbalanced Market Breadth
Selling pressure was pronounced with only 17 advancing stocks against 36 decliners out of 53 tracked securities, indicating significantly negative market breadth. This performance contrasts with Brent's rebound to $103.16/barrel (+2.7% on the day), which benefited energy stocks but wasn't enough to offset heavy mining losses.
Main Story: Gold Mining Carnage
The gold mining sector faced the strongest pressures on Friday, reacting directly to falling global prices. According to BMO analysts cited in global flows, the Iran war is "upending commodities" and creating exceptional volatility even for traditionally bullish assets like gold.
- •Impala Platinum (IMP): -9.3% to