PGM supply deficit not over

Implats delivered a strong set of numbers – so why did the market still look unimpressed? Matete Thulare from Investec unpacks the results and explains why the bank expects all PGMs to move into supply deficits in 2026. Then Alex Tsepaev from B2PRIME Group joins us on gold: the “safe haven” label, what’s driving the trade right now, and the moments when gold can actually add risk to a portfolio. Plus Simon’s take on what a protracted Iranian war could mean for South Africa’s economy – from oil and inflation to the rand and growth.