JSE closes firmer with miners leading broad-based gains
A better bullion price boosted gold shares and pushed the JSE higher. Platinums were also stronger though the metal’s price was lower for most of the day, ending flat
The JSE closed higher on Monday with mining stocks firmer and the market taking a slightly more positive view of a Trump presidency. although European markets were weaker. Gold shares were boosted by a firmer gold price, which had added 0.41% to $1,213.36 by late afternoon. Platinum stocks were higher despite the platinum price trading weaker for most of the day. It was flat at $979 an ounce at the JSE’s close. Brent crude was 0.85% weaker at $54.97 a barrel. Positive mining sentiment was based on the weaker dollar, which has been under pressure since Friday after Donald Trump’s inauguration as president. The dollar’s drop in value improved prospects for US stocks; the Dow Jones industrial average closed higher on Friday for the first time in five sessions. In his inaugural speech, Trump took a decidedly protectionist stance, leading to some confusion in the market on how that related to his campaign promises to grow the US economy. With Trump saying the North American Free Trade Ag...
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