The JSE closed weaker on Friday, dragged lower by resources and platinums amid a sharp drop in the copper price. After trading more than 1% higher in the morning, platinum shares retreated sharply later in the day on jitters surrounding the copper price, which lost 3% on Thursday. Traders attributed the lower copper price to production cuts at mines in Chile and Indonesia. The retreat by platinum stocks occurred in spite of a sharp rise in the platinum price, which gained 1.60% to a four-month high of $1,014 an ounce in late trade. Gold capitalised on a slightly softer dollar, with the metal gaining 0.53% to $1,2555 an ounce, its best level in three months. Industrials were also weaker with retailers bucking the trend. The JSE all share closed 1.1% lower at 51,609.9 and the blue-chip top 40 dropped 1.17%. Resources shed 3.08% and platinums were 2.5% lower. Industrials retreated 0.74%, general retailers shed 0.55%, good and drug retailers lifted 1.32%, and property rose 0.41%. The al...
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