Johannesburg - Shares of South African gold companies surge sharply, lifting the index of bullion producers more than 7 percent, after the precious metal hit fresh two-month highs on strong buying from China.
Spot gold hit a two-month high of $1,372.51 on Friday before paring gains to trade down 0.07 percent at $1,364.60 an ounce by 09:30 SA time.
It has risen about 4 percent this week.
AngloGold Ashanti, South Africa's biggest bullion producer, is up 9.3 percent at 148.00 rand, the biggest gainer on the blue-chip Top-40 index .
It is followed by Gold Fields, South Africa's second-biggest bullion producer, which is 5.45 percent higher at almost 65 rand. Smaller rival Harmony Gold is up 7.45 percent at 41.85 rand. - Reuters