North Korea jitters: gold surges

THE GOLD index surged 6.18 percent on safe-haven demand, as according to analysts, geopolitical risk can boost demand for assets such as gold.

South African stocks pulled away from record highs yesterday as rising tensions on the Korean peninsula drove investors to limit risks and shift to safe havens.

But the rand firmed, recovering ground after a slide to a onemonth low after President Jacob Zuma survived a no-confidence vote. It remained vulnerable to weak economic fundamentals and political uncertainty.

On the bourse, the JSE AllShare index fell 0.5 percent to 55 700 points, shedding 696 points from a record high of 56 396 points on Monday, while the Top-40 index fell 0.54 percent to 49 303 points. – Reuters

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