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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: long-gone who wrote (49260)	2/17/2000 3:02:00 PM
From: Gord Bolton	Respond to of 116756

Gold rally catapults JSE higher SARAH BULLEN and Reuters, Cape Town \| Thursday 5.45pm -------------------------------------------------------------------------------- A STRONG gold price catapulted local markets higher in the late afternoon, breaking a five day bear run on the Johannesburg Stock Exchange. The gold index leapt 3,92% to 1 313 as gold firmed to a high of $309,25 an ounce from $303,50 late on Wednesday after receiving a knock on the announcement by Ghana's Ashanti Goldfields' of an about-turn in its hedging strategy The rally came despite an early dip on Wall Street ahead of Federal Reserve chairman Alan Greenspan's semi-annual congress testimony on Thursday night. The overall market rose 1,77% on the day, with strong gains in both the financial and industrial sectors which climbed 0,65% and 1,70% respectively. Shares in integrated metals and minerals group Iscor went against the firmer tone, giving up 3,19% to R22,75 after the group said recent floods would impact negatively on production. Just after local markets closed Greenspan warned that the US economy, though still robust, faces a growing threat of inflation that could imperil national prosperity. Greenspan said that for the moment, inflation remains "largely contained" in the face of declining labor costs and a continuing acceleration in productivity, which increased 3,25% last year. The rand was last at R6,30 per dollar from a previous close of R6,33. International markets were upbeat on Thursday. Asian markets showed strong gains with Japan's Nikkei Dow 2,19% up on the day while Hong Kong's Hang Seng index gained 1,76%.