THURSDAY, 11.30AM
THE Johannesburg Stock Exchange’s all gold index has not yet found the bottom in its current free fall, hitting a new four-year low on Wednesday for the 18th time in two months.
The gold index shed another 11,2 points, or 1,2%, to 1 007,4, on the back of a continuing weak gold price and fears of imminent dumping of gold reserves by European central banks. Gold ended at $338,70 in London yesterday, down slightly on Tuesday’s $339.
But while gold languished, the rest of the market streaked ahead on Wednesday, with the financial and all share indices hitting new record highs for the second day running, and the industrial index hitting a new 17-month high.