MARKET WRAP: Platinum miners erase 2020 loses despite still-lower metal price

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 63%

United States News News

United States United States Latest News,United States United States Headlines

MARKET WRAP: Platinum miners erase 2020 loses despite still-lower metal price 🔒

Platinum miners led gains on the JSE on Wednesday, with the index now having erased all of its 2020 losses, while the gold price broke above the psychologically important $1,800/oz as a resurgence in Covid-19 cases continues to drive skittish markets.

As the world battles with uncertainty surrounding the pandemic, hawks have rushed into gold, pushing the spot price above the psychologically important $1,800/oz, its highest level since 2011“The gold price is striving towards a new all-time high, while [other] commodity prices are in the process of recovering from their collapse in March, as optimism, if patchy, continues to build on the global recovery,” said Investec chief economist Annabel Bishop.

The JSE all share ended on Wednesday up 1.13% to 55,870.69 points and the top 40 rose 1.25%. Platinum miners leapt 5.82%, banks 4.21% and gold miners 3.49%.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

MARKET WRAP: JSE firms for a second day despite virus worriesBoth the all share and top 40 gained on the day, but the rand weakened
Source: BDliveSA - 🏆 12. / 63 Read more »

Market data — July 6 2020Market data including bonds, unit trusts and fuel prices
Source: BDliveSA - 🏆 12. / 63 Read more »

Business Maverick: Global Stocks Mixed as Rally Pauses; Yen Dips: Markets WrapSteinhoff International Holdings NV is close to reaching a potential deal on 10 billion euros ($11 billion) of legal claims lodged against the global retailer following an accounting scandal that almost wiped out the company, according to two people with knowledge of the matter.
Source: dailymaverick - 🏆 3. / 84 Read more »

Finding a job in the current market climate with Huawei AppGallery’s assistanceWith the scarcity of jobs now, standing out from a large crowd of job seekers is important. With an immaculate CV at hand, and the right job searching tools and resources, you could catch the eye of potential recruiters.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Rand gains along with emerging-market peersThe US Fed indicates more stimulus as Covid-19 surges in that country, and investors move to safe-haven assets such as gold
Source: BDliveSA - 🏆 12. / 63 Read more »

Market stability allows Reserve Bank to reduce pace of bond purchasesDeputy governor Fundi Tshazibana tells of resumption of market activity
Source: BDliveSA - 🏆 12. / 63 Read more »