With this gold price heading towards 600, positive sentiment is driving the sector.
More Quotes from Ferdi Heyneke:
The JSE is strong again, but it will stay volatile for the foreseeable future. The Dow was steady overnight, while the gold price moved back to 530oz. The market should pick up from next week as more people are at their desks.Ferdi Heyneke
I think it got ahead of itself especially gold and platinum stocks and profit taking was not unexpected.
Ferdi Heyneke
Gold has pulled back from its recent spike to around 505 an ounce while the rand has strengthened to 6.34 against the US dollar.
Ferdi Heyneke
The JSE was lower today on profit taking and the pull back in markets overseas, especially the East. There is no change in the fundamentals.
Ferdi Heyneke
A lot of factors are positive for the sector, there's Christmas turnover, a stronger rand which means interest rates will remain as they are or even another cut as some people are suggesting.
Ferdi Heyneke
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