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Gold Stocks Shine as South African Equities Lose Luster: Chart

South African gold companies are bucking the selloff in the country’s stock market as the spread of the bullion price in rand rises to the highest level over the benchmark equities gauge in more than two years.

The five-member FTSE/JSE Africa Gold Mining Index is up 28 percent this year as the 8 percent slump in the rand boosts profit margins for mining companies that earn in dollars and pay costs in the local currency, pushing the rand-gold price to a record. Harmony Gold Mining Co., Sibanye Gold Ltd., Pan African Resources Plc and AngloGold Ashanti Ltd. are leading gains on the FTSE/JSE Africa All Share Index, which is down 8.7 percent this year amid an emerging-market rout.