New York, January 6, 2026, 14:03 EST — Regular session
- Sibanye Stillwater shares rose about 7% in afternoon New York trade
- Gold, platinum and palladium climbed on safe-haven demand and rate-cut bets
- Next catalysts include Friday’s U.S. payrolls report and Sibanye’s late-January strategy update
South Africa’s Sibanye Stillwater Limited shares jumped 6.7% to $16.16 on Tuesday, after touching $16.31 in afternoon New York trade.
Spot gold rose 0.9% to about $4,488 an ounce and edged closer to December’s record as investors bought safe-haven assets after the U.S. seized Venezuelan President Nicolas Maduro over the weekend. “Precious metals traders see more risk on the horizon than stock and bond traders do,” said Jim Wyckoff, a senior analyst at Kitco Metals; platinum and palladium were up 6.5% and 6.3%, respectively. Traders are pricing two Federal Reserve rate cuts this year, and markets are braced for Friday’s U.S. payrolls data, expected to show about 60,000 jobs added in December. 1
The metal rally lifted other South African miners listed in the United States, with Gold Fields up 6.5% and Harmony Gold gaining 5.4%. For Sibanye, which sells gold and platinum-group metals (PGMs) — a cluster used in catalytic converters that curb vehicle exhaust — swings in bullion prices can quickly change the earnings picture.
Morgan Stanley, in a note dated Monday, forecast gold could hit $4,800 an ounce by the fourth quarter of 2026, citing falling interest rates and steady buying by central banks and funds. The bank said the Venezuela events were likely to draw more safe-haven demand, though it did not list them as a driver of its price target. 2
The next near-term test for metals — and for miners’ shares — is the U.S. employment report for December, scheduled for 8:30 a.m. ET on Jan. 9, the Labor Department’s Bureau of Labor Statistics calendar shows. A big surprise can jolt the dollar and interest-rate expectations, key inputs for gold and other non-yielding metals. 3
Sibanye will host a strategy update on Jan. 29 and plans to release its second-half and full-year 2025 results on Feb. 20, the company says. Investors will look for cost and output guidance, and for any update on capital returns after the recent rebound in metal prices. 4
But the rally leaves little room for disappointment if gold and PGMs retreat or if policymakers signal a higher-for-longer rate path. Sibanye also faces the usual risks for deep-level mining, from power and labour costs in South Africa to disruptions at its U.S. operations.
