‘Trump tweet sees investors rush to safety’

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(Pablo Martinez Monsivais, AP)
(Pablo Martinez Monsivais, AP)

Cape Town – Markets ended firmer on Tuesday as banks and retailers gained on the back of a stronger rand. 

Heightened geopolitical risk saw investors buy gold, lifting the safe-haven asset to $1269/Oz by the close of the market. This rally in the precious metal resulted in a +3.31% rally in the Gold Index, led by Harmony Gold [JSE:HAR], which climbed by 5.8%.

Gold was the main beneficiary of heightened geopolitical risk led by US President Donald Trump’s latest twitter threats toward North Korea, with the safe-haven asset reaching its highest price for the year.

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USD/ZAR
14.10
-0.7%
GBP/ZAR
19.71
-0.2%
EUR/ZAR
17.13
-0.1%
AUD/ZAR
11.06
-0.0%
JPY/ZAR
0.13
-0.4%
Gold
1,830.31
+0.8%
Silver
27.32
+0.1%
Palladium
2,908.50
-1.4%
Platinum
1,248.50
-0.6%
Brent Crude
68.09
-1.3%
Top 40
62,573
+1.4%
All Share
68,520
+1.4%
Resource 10
71,474
+2.1%
Industrial 25
86,856
+0.9%
Financial 15
12,711
+1.1%
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