MONDAY, 11.00AM
THE Johannesburg Stock Exchange’s all gold index followed bullion’s latest recovery on Friday, picking up 27,7 points to close at 992 (after an intraday high of 1 005,1) as gold rallied $4,80 to $324,20/oz.
Analysts, however, remain cautious about gold’s fortunes, saying the situation is nothing to get excited about, and a rally will only set a trend above $332/oz.
Meanwhile, the New York stock exchange’s Dow Jones index took an unexpected dip on Friday, falling 130 points to 7 891. Major world exchanges are expected to be watching Wall Street nervously this week. Markets are expecting US Federal Reserve chairman Alan Greenspan to make a statement on raining interest rates when he testifies before Congress on Wednesday, as analysts believe the US economy is racing ahead.