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Gold Fields, AngloGold shares rally

March 7 2013 at 11:04am
By Reuters

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Filomena Scalise

Johannesburg - Shares in South African gold producers rallied Thursday on what appeared to be technical factors after charts showed they had been oversold, analysts said.

Africa's top bullion producer AngloGold Ashanti was almost 5 percent higher at 220.85 rand at 09:30 SA time while smaller rivals Gold Fields and Sibanye both climbed over 5 percent.

Harmony Gold was up 3.50 percent.

The 14-day RSI, a measure of momentum watched by technical analysts, of all four shares have in recent days strayed below the oversold level of 30. - Reuters


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