Monthly Update
November offered a clear reminder of how quickly market conditions can shift. Locally, gold and platinum shares delivered strong double-digit returns, rebounding after a weaker October and continuing their solid performance into 2025. South Africa’s unemployment rate also improved, declining from 33.2% to 31.9% in the third quarter.
Offshore, the US Federal Government reopened after a historic 43-day shutdown, while the Federal Reserve cut interest rates by 0.25%, a move widely expected by markets.
This month’s update also highlights the long-term relationship between risk and return. While markets can appear unpredictable in the short term, history shows that investors who maintain exposure to growth assets over time are rewarded — even through periods of economic strain.
👉 Read more in our Monthly Market & Fund Update.
Summary – November ’25
