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/ 29 February 2008
Gold-mining stocks and other commodity counters helped keep the JSE’s head above the water by midday on Friday, as metal prices kept driving higher on the back of a weaker United States dollar. By 12.01pm, the JSE’s broader all-share index was up 0,24%, led by a 1,85% climb in the gold-mining index.
Gold struck a new all-time peak of almost $868 dollars on Thursday as the precious metal benefited from its safe-haven status amid record high oil, a struggling dollar and Pakistan tensions, analysts said. The price of gold reached a historic $867,90 an ounce on the London Bullion Market. It later slipped slightly to stand at $866,90.