TUESDAY, 11.30AM
GOLD managed to keep its head above the $320/oz mark in international markets on Monday, giving a measure of confidence to gold shares on the Johannesburg Stock Exchange.
Bullion traded between $320,20 and $322,10 on European markets, closing in both London and New York at $320,85. The JSE’s all gold index plucked up the courage to venture back over hte 1 000 points mark for the first time in weeks, before slipping back to close at 999,6. The gold board’s 35 point (3,6%) helped add 33 points to the industrial index, which closed at 7 381.
With traders expecting further declines in bullion and the rand, the local currency slid nearly 1c against the dollar, trading at R4,5540 from R4,5445 at the weekend. The rand gained against other currencies however.