Africa: Johannesburg gold stocks break records on haven boost | AfriTV Online

Brown highlighted in an interview from Johannesburg, “Gold is one rare commodity with positive impacts and potentials”, the country has taken the initiative to grow the resource or commodity base to provide upside for both country and compa...

johannesburg, gold, africa

Africa: Johannesburg gold stocks break records on haven boost

Published by: Tobiloba Chelsea
07/11/2020 09:23 PM

Brown highlighted in an interview from Johannesburg, “Gold is one rare commodity with positive impacts and potentials”, the country has taken the initiative to grow the resource or commodity base to provide upside for both country and companies. 

 

Gold has reached a cutting-edge of 19 percent in 2020, pushing it within reach of all-time high, with an estimated price of US$1,921 an ounce reached in September 2011.

 

Rand price of Gold has experienced an increase of 44 percent, as the currency deteriorated against the United State Dollar, which in turn improved local producer’s profit margins. 

 

Johannesburg producer’s index increased, to over 80 percent in 2020. On Friday, the sector rose to another 3.3 percent to an all-time high. Spot gold yesterday, deteriorated to 0.3 percent to US$1,798, an ounce on the COMEX, up to 0.8% for the week. 

 

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