MARKET WRAP: Gold stocks surge as metal reaches record high
Gold hits a record high as the dollar continues to struggle amid US-China tension and a surge in Covid-19 infections
BL PREMIUM
27 July 2020 – 19:02
Miners led gains on the JSE on Monday, with the gold index recording its biggest jump in six weeks as spot prices of the metal surpassed 2011’s high.
The gains in gold stocks came as the spot price of gold reached a near nine-year high at $1,945/oz, before pulling back a little in the early evening, as US-China relations deteriorate and the dollar continues to weaken.
Source: businesslive.co.za
