Foreigners Aren't Buying Into South Africa's Gold Rally
- Non-residents have been net sellers as gold index hit record
- Concerns about supply disruption, high costs spook investors
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Not even a record rally can entice foreign investors to South African gold stocks.
With gold prices soaring on the heels of monetary stimulus, shares in producers of the metal are back in favor around the world. But investors are fretting about supply disruptions at South Africa’s mines as a result of soaring Covid-19 infections, according to Benguela Global Fund Managers Ltd.