MARKET WRAP: Platinum miners erase 2020 loses despite still-lower metal price
The gold price has breached the psychologically important $1,800/oz, its highest level since 2011, as investors continue to pile into safe havens
08 July 2020 - 20:20
Platinum miners led gains on the JSE on Wednesday, with the index now having erased all of its 2020 losses, while the gold price broke above the psychologically important $1,800/oz as a resurgence in Covid-19 cases continues to drive skittish markets.
Platinum miners hit a multi-year trough on March 19, when the world came to the realisation of just how big an effect the Covid-19 pandemic was going to have on global economies. Since then, however, the index has risen steadily both on safe-haven demand and a ramping up of economic activity...
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