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GOLD prices surged to their highest in more than five years yesterday after the US Federal Reserve signalled a possible interest rate cut as early as next month, pressuring US Treasury yields and the dollar.
Spot gold was up 1,7 percent at $1 382,61 per ounce as of 1019 GMT, after hitting its highest since 17 March 2014 at $1 386,38 earlier. Gold prices have gained about $80 so far this month.
US gold futures jumped 2,8 percent to $1 386,30 an ounce, after touching their highest since April 2018 at $1 397,70.
ALL SHARE
The All Share index gained 1.03 points 0,46 percent to close at 222.73 points. Old Mutual Limited traded $0,7115 higher at $17,1475. CBZ Holdings Limited added $0,0500 ending at $0,5500 and FBC holdings limited rose by $0,0275 to close at $0,6300. Pretoria Portland Cement Limited advanced by $0,0231 settling at $2,4305 and Simbisa Brands Limited added $0,0225 to $1,3225.
Trading in the negative: First Capital Bank Limited lost $0,0160 to end at $0,0800 and Padenga Holdings Limited reduced by $0,0074 to end at $2,1511.
Online Reporter