/ 29 March 2000

Gold weights JSE down

OWN CORRESPONDENT, Johannesburg | Tuesday 5.00pm.

THE JSE suffered a setback on Tuesday, dragged down by a weaker gold price, ending the day 1,86% or 153 points lower.

Resources took the biggest knock, closing play 3,05% or 152 points in the red.

Gold lost a whopping $3,45 on the day and at 4pm was trading at $280,70 an ounce on international markets.

Dealers said the expected OPEC decision on whether it will raise oil production is also keeping local and international players guessing.

Financials ended 1,52% or 161 points lower, while industrials closed shop 1,30% or 127 points down.

By late afternoon the rand was trading R6,46 to the dollar and R10,26 to the pound.

Asian markets posted good gains, the Hang Seng finishing 2,91% or 517 points up, and the Nikkei 2,09% or 416 points good.