The JSE closed higher on Friday in renewed global risk-on sentiment as markets took the view that the pullbacks earlier in the week may have been overdone. At comfortably above the 54,000-point level, the all share closed at its highest so far this year as industrials gained on the weaker rand and miners rebounded on firmer commodity prices in an about-turn from Thursday’s risk-off trade. The platinum price gained 1% to $942 an ounce and gold rose 0.50% to $1,253. Gold was 2% up for the week, its best performance since mid-April. Jitters about Donald Trump’s controversial presidency, more specifically the firing of FBI director James Comey, saw the Dow Jones industrial average experience its worst one-day fall so far this year on Wednesday. Despite Friday’s upbeat start, the Dow was set to end the week lower in its worst weekly performance since March. Investors took flight to safe havens, such as US treasuries and gold, as the dollar was sold off amid indications that Trump will st...
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