Metals are hot, and Bitcoin's not, much to the chagrin of the crypto sector. Silver peaked above a record-high $120 per ounce in the early hours of trading on Thursday, and gold also rose to a record price of about $5,600. Meanwhile, Bitcoin is down below $85,000, plummeting about 33% since its all-time high in October, according to Binance.
Profit-taking pressure at elevated levels, combined with a series of mixed macroeconomic signals, has left the market in a state of hesitation, unable to establish a clear short-term trend.
South African equities are seen vulnerable to pullbacks despite a recent rally, suggesting that investors are reassessing valuation levels after pushing the JSE FTSE Top 40 index above 85,000 points.
