{"id":11222,"date":"2012-06-07T23:01:32","date_gmt":"2012-06-07T21:01:32","guid":{"rendered":"http:\/\/www.myza.co.za\/06\/s-african-gold-stocks-gain-gold-miners-buck-trend\/"},"modified":"2012-06-07T23:01:32","modified_gmt":"2012-06-07T21:01:32","slug":"s-african-gold-stocks-gain-gold-miners-buck-trend","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/s-african-gold-stocks-gain-gold-miners-buck-trend\/","title":{"rendered":"S.African gold stocks gain, gold miners buck trend"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p><span class=\"articleLocation\">JOHANNESBURG, June 7<\/span> (Reuters) &#8211; South African stocks ended<br \/>\nfirmer on Thursday as investors took solace in improved global<br \/>\nsentiment but gold shares refused to be consoled, choosing<br \/>\ninstead to follow spot prices lower.<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>The JSE Top-40 blue-chip index closed up 0.91<br \/>\npercent at 29,947.48 and the broader All-share index<br \/>\ngained 0.90 percent to 33,904.86.<\/p>\n<p><span><\/span><\/p>\n<p>Africa&#8217;s largest gold producer AngloGold Ashanti<br \/>\nwas knocked 5 percent to 303.50 rand while Gold Fields<br \/>\nfell 5.5 percent to 110.57 rand.<\/p>\n<p><span><\/span><\/p>\n<p>Harmony Gold Mining, South Africa&#8217;s third largest<br \/>\nproducer of the precious yellow metal, closed almost 4 percent<br \/>\nlower at 85.60 rand. Johannesburg&#8217;s gold index, which<br \/>\nhas fallen nearly 14 percent this year to date, shed 4 percent.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;Much of the mark down is contributed to rand strength and<br \/>\ngold weakness,&#8221; said Global Trader&#8217;s Mark Wilkes.<\/p>\n<p><span><\/span><\/p>\n<p>The rand has firmed this week over 3 percent against the<br \/>\nU.S. dollar while spot gold was last bid at $1,588 after opening<br \/>\nat $1,620. The combination is bad for domestic gold miners<br \/>\nbecause it pushes bullion&#8217;s price lower in rand terms.<\/p>\n<p><span><\/span><\/p>\n<p>Spot gold prices slid after the Federal Reserve<br \/>\noffered few hints on the likely course of U.S. monetary policy.<br \/>\nThis boosted the dollar and offset the lift to bullion from a<br \/>\nChinese rate cut.<\/p>\n<p><span><\/span><\/p>\n<p>Investment banks including Investec and RMB<br \/>\nHoldings topped the gainers on the JSE Top-40 blue-chip<br \/>\nindex. Investec jumped 4 percent to 45.25 rand while RMB<br \/>\nHoldings added more than 3 percent to close at 34.59 rand.<\/p>\n<p><span><\/span><\/p>\n<p>Advancers outnumbered decliners 179 to 112 and 63 stocks<br \/>\nremained unchanged.<\/p>\n<p><span><\/span><\/p>\n<p>A total of 236 million shares changed hands, according to<br \/>\npreliminary data from the exchange, just below a 200-day moving<br \/>\naverage of about 250 million shares.  \t<\/p>\n<p> (Reporting by Sherilee Lakmidas and Tshepo Tshabalala)<\/p>\n<p><span><\/span><\/p>\n<p class=\"copyright\">\n<p>         \t\t\u00a9 Thomson Reuters 2012 All rights reserved<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JOHANNESBURG, June 7 (Reuters) &#8211; South African stocks ended firmer on Thursday as investors took solace in improved global sentiment but gold shares refused to be consoled, choosing instead to follow spot prices lower. The JSE Top-40 blue-chip index closed up 0.91 percent at 29,947.48 and the broader All-share index gained 0.90 percent to 33,904.86. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-11222","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=11222"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/11222\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=11222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=11222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=11222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}