Advertisement

SA gold producers gain

Johannesburg - South African bullion producers such as Harmony Gold and AngloGold Ashanti rallied on Monday on speculation of a slowing in US stimulus tapering, which lead to a rally in the price of spot gold.

At 11:30 SA time the price of spot gold was at $1274.5, up 0.6 percent from the last session.

Harmony climbed 5.35 percent to 30.50 rand, after shedding 8 percent from Wednesday to Friday last week when 11 of its employees were killed in three separate accidents on the job.

The company shut down all its operations on Friday to focus on safety procedures for 24 hours following the incidents.

AngloGold added 4.52 percent to 171.75 rand, its highest level in eight months, while Sibanye Gold ticked up 3.4 percent to 17 rand. - Reuters

SHOW ALL
Advertisement