TUESDAY, 11.30AM The gold price came under pressure yesterday as investor sentiment turned negative following a German central bank announcement that it is re-evaluating its reserves. With the addition of late profit-taking, the metal closed at just over $340/oz in London yesterday, slashing the Johannesburg Stock Exchange gold index’s hard-won recent gains 3%.
The gold index ended the day 35,5 points down at 1 193, pushing the all-share index down 26 points to 7 117.
BUSINESS BRIEFS
BANKS TO CLOSE FOR PROTEST
COMMERCIAL banks across the country are set to close on Thursday when 50 000 employees protest the recent wave of armed afflicting the country. The protest has been called by the 75 000-member SA Society of Bank officials.
DE BEERS REOPENS IN ZAIRE DE BEERS said yesterday it had reopened its diamond-buying office in Zaire’s diamond capital Mbuji-Mayi. De Beers’ Zairean offices were closed after the invasion by rebels of new president Laurent Kabila.
PLUM FARMERS SLATE UNIFRUCO PLUM farmers in the Western Cape have disputed claims by parastatal deciduous fruit marketer Unifruco that it dumped 100 000 cartons of plums on the European market earlier this year. The farmers say they received R18 per carton instead of a promised R28, a loss which signifies at least 800 000 cartons of the 2,1-million cartons produced.