JSE opens weaker on Barcelona attack, Trump shenanigans as gold shares gain
The JSE followed weaker global markets lower at the opening on Friday in cautious trade with gold shares higher as the gold index appeared set to end a fourth consecutive week on the upside. Spot gold rose 0.43% to $1,293.26. The rand was at R13.2251 to the dollar from R13.2597. Gold shares have gained on a relatively weaker rand and as geopolitical tensions escalating around North Korea earlier in the week, while concern about President Donald Trump’s wayward presidency has made gold an attractive safe-haven investment. Trump’s decision to disband key business advisory councils on Wednesday‚ after business executives protested against his failure to condemn racism, has created tensions in his administration which is expected to affect investor sentiment negatively. US markets closed sharply lower on Thursday, with the S&P 500 falling to its lowest level in more than a month, as concerns surrounding ongoing political turmoil in Washington DC weighed on the market. The Dow was 1.24% ...
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