The JSE opened firmer on Wednesday as gold stocks rallied on a weaker dollar. The gold price gained 0.53% to $1,243.30 an ounce in early-morning trade as the rand backtracked somewhat to R13.1662/$, falling short of expectations it would soon test the R13/$ level. The dollar lost further ground against the euro as the market questioned the ability of President Donald Trump’s administration to deliver on his planned tax reforms given the controversies affecting his presidency following his firing of FBI head James Comey. "A large portion of the Trump market rally emerged in the wake of the notion that meaningful tax reform of the US corporate environment would drive earnings in the quarters ahead," Momentum SP Reid analysts said. The Dow Jones industrial average is up 6.16% so far this year after gaining 13.42% last year. It closed 0.01% down on Tuesday. Asian markets were weaker on Tuesday morning, with the Nikkei 225 average losing 0.53% in Japan. In Hong Kong the Hang Seng index d...
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