North Korea jit­ters: gold surges

The Star Early Edition - - LETTERS -

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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