Gold Miners Rise After Hitting Two-Year Low: Johannesburg Mover
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South African gold mining shares finished trading less than 0.1 percent higher, having reached a two-year low after gold entered a so-called bear market as bets that Greece may quit the euro eroded the metal’s appeal.
The FTSE/JSE Africa Gold Mining Index slid as much as 3 percent to the lowest since February 2010. AngloGold Ashanti Ltd., Africa’s biggest producer of the metal, rose 0.9 percent to 263 rand, reversing a 3.1 percent decline. Bullion for immediate delivery slipped as much as 1.1 percent to $1,526.97 an ounce, the cheapest since Dec. 29, before recovering to $1,542.68 an ounce by 5:05 p.m. in Johannesburg.