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MARKET WRAP: Gold stocks surge as metal reaches record high

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Gold hits a record high as the dollar continues to struggle amid US-China tension and a surge in Covid-19 infections

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.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

 

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