SA turns unlikely haven as gold gain boosts stocks

Gold bullion is displayed at Hatton Garden Metals precious metal dealers in London, Britain. Picture: REUTERS/NEIL HALL

The average profit estimate for the FTSE/JSE Africa Gold Mining Index now matches that of the FTSE/JSE Africa All Share Index when measured over five years, according to data compiled by Bloomberg. The gold-mining index has jumped 24% since January as of Wednesday’s close, eclipsing a 5.4% gain for the all-share index. That’s taken the valuation of the subgroup gauge above that of the benchmark index. The factors behind gold’s advances are deepening.

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