The JSE opened marginally firmer on Tuesday on a flat Dow and mixed Asian markets as a rebound in gold shares pushed the all share higher. Banks also recovered after sharp losses on Monday with a number of positive results supporting market sentiment, notably from Telkom. The spot gold price climbed 0.72% to $1,229.04/oz after losing ground in the aftermath of Donald Trump’s victory in the US presidential election. Gold fell to a five-month low on Monday on a surging dollar with analysts sceptical whether gold would be able to make much headway in the short term. Safe-haven demand seemed to be skewed towards the dollar predominantly, Nedbank Corporate and Investment Banking (CIB) analysts said in an early morning note. "This would probably persist, especially as the dollar continues to strengthen over the medium term," Nedbank said. At 9.31am the all share was up 0.31% to 49,884.50 points and the blue-chip top 40 added 0.28%. The gold index was up 5.48%, banks 1.74% and platinums 1....
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