Gold stocks were off to a strong start on the JSE Securities Exchange South Africa (JSE) on Friday, buoyed by a better bullion price and a strong performance by the ADRs in the US overnight. However, overall the market was flat, with the firmer currency doing little to help heavyweight dual-listed stocks.
At 0916, the gold mining index was up 2,18%, with the resources and platinum mining indices gaining 0,62% and 0,78% respectively. The all share index was flat (+0,06%) as was the financial index (-0,18%). The all share industrial index had dipped 0,34%, while the IT index was unchanged.
The rand was trading at 8,3000 to the dollar from 8,3555 when the JSE
closed on Thursday, while gold was quoted at $357,12 an ounce from $352.90 an ounce at the JSE’s last close. – I-Net-Bridge