Gold rallies as investors head for safe havens
JOHANNESBURG – Gold rallied on the JSE yesterday as investors dumped riskier assets for safe havens on continuing concerns about the spread of the coronavirus.
The rand weakened as the dollar strengthened against emerging-market currencies.
The JSE gold mining index climbed 4.97percent to 2913 points in early trade before shedding 3.93percent to 2885 points.
The gold price climbed 0.75percent to $1582.46 (R23135).
Several Asian markets were shut for the lunar New Year holidays yesterday, causing a lack of liquidity and exacerbating the decline.
Source: iol.co.za
