Gold Price in South African Rand (ZAR)
Track the live gold price in South African rand per troy ounce and per gram. Real-time XAU/ZAR charts reflecting both gold spot movements and the volatile USD/ZAR exchange rate.
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South Africa's Gold Mining Legacy
South Africa was the world's dominant gold producer for over a century. The Krugerrand, introduced in 1967, was the first modern bullion coin and remains one of the most traded gold coins globally.
- Historic peak: 1,000+ tonnes/year in 1970 (~70% of global output)
- Key deposit: Witwatersrand Basin, Gauteng province
- Major miners: Harmony Gold, Gold Fields, AngloGold Ashanti, Sibanye-Stillwater
- Krugerrand: 1 oz pure gold, 22K (91.67%), alloyed with copper for durability
- Rand volatility amplifies gold returns -- gold acts as a hedge against ZAR depreciation
- CGT: 40% inclusion rate for individuals (effective max ~18%); annual R40,000 exclusion
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Frequently Asked Questions
How does gold impact South Africa's economy?
South Africa was historically the world's largest gold producer. Gold mining remains a significant part of the economy, and the gold price in ZAR is closely watched as it affects mining revenues, employment, and the rand's strength.
What is a Krugerrand?
The Krugerrand is a South African gold bullion coin first minted in 1967 by the South African Mint and Rand Refinery. It contains exactly one troy ounce of pure gold alloyed with copper for durability, giving it a total weight of 33.93 grams at 22-karat fineness (91.67% gold). It was the world's first modern gold bullion coin and remains one of the most widely traded and recognised gold coins globally. Fractional sizes (1/2 oz, 1/4 oz, 1/10 oz) are also available.
Why does the ZAR gold price move so much?
The ZAR gold price is subject to a double amplification effect. When global uncertainty rises, gold prices tend to increase in USD while the rand simultaneously weakens against the dollar as investors flee emerging market assets. This means the ZAR gold price surges on both the rising gold price and the falling rand. Conversely, during risk-on periods, both effects can reverse. This dynamic makes gold a particularly powerful hedge for South African investors concerned about rand depreciation.
How is gold taxed in South Africa?
In South Africa, profits from selling gold (including Krugerrands, bars, and ETFs) are subject to capital gains tax. For individuals, only 40% of the net capital gain is included in taxable income, which means the effective maximum tax rate on gold gains is approximately 18% (40% inclusion rate multiplied by the 45% top marginal rate). There is also an annual exclusion of R40,000 for individuals. VAT of 15% applies to Krugerrands and gold coins but not to gold bars traded between VAT-registered dealers.