Related Articles
Top Stories
Dec 10 2010 08:15
Adcock Ingram has suspended sales of medicines, including a popular painkiller, in SA after one of their ingredients was banned in the US.
Dec 10 2010 10:15
A dossier with allegations of corruption has thrown Telkom into a state of crisis.
Dec 09 2010 16:58
Public Enterprises Minister Malusi Gigaba wants Transnet to explain why the cost of its fuel pipeline more than doubled and is concerned about the project's delay.
Dec 08 2003 08:51
Fast food giant McDonald's has been accused of using a banned sweetener suspected of causing cancer in its Hong Kong restaurants.
Dec 09 2010 19:01
The Competition Tribunal has ruled that MMI Holdings, the merged entity of Metropolitan and Momentum, cannot retrench staff for two years.
Oct 24 2007 21:51
Shops across Britain have withdrawn batches of lamb after it was found they were unfit for human consumption, the Food Standards Agency says.
Dec 09 2010 14:49
The Reserve Bank Quarterly Bulletin shows strong capital inflows into SA continued in the third quarter.
Dec 08 2010 09:30
Engines damaged after driving through pools of water during the rainy season may not be covered by insurers, the insurance ombudsman warns.
Dec 09 2010 16:11
Elias Masilela has been named CEO of the Public Investment Corporation, one of SA's largest asset managers.
Dec 10 2010 09:24
SA farmers have to look at other markets to export their products as other African countries are upping their game, an industry expert says.
Johannesburg - Spot gold reached a new high in afternoon trade on Tuesday, reaching a best level of $1 431.30 troy ounce, before tapering off to its most recent trade at $1 419.05/oz.
Rallies in gold was spurred by momentum buying, so may be vulnerable if markets see a swift change in sentiment, Commerzbank analyst Eugen Weinberg told Dow Jones Newswires.
"You should enjoy the party, but stay close to the door," he said. Failing a change in mood, Weinberg said he expected little profit taking in the metals and tipped further gains heading into the new year, despite the metals recording fresh all-time highs.
The yellow metal broke through its previous best of $1 424.33/oz, reached on November 9.
Earlier, Jono Remington-Hobbs at London based FastMarkets told I-Net Bridge: "Gold and silver have reached new highs today on the back of more stable developments in Europe and the easing of sovereign debt concerns.
"It follows comments made by (Fed Chairman) Ben Bernanke on the weekend, suggesting that further easing measures will not be ruled out. Both of these factors are seen as bullish long-term drivers," Remington-Hobbs said.
Federal Reserve chairman Ben Bernanke commented on easing measures on CBS' "60 Minutes" news programme, aired on Sunday.
Bernanke said it was certainly possible that the Fed could expand a program to buy US$600bn in Treasury securities beyond the initial target it announced about a month ago, Dow Jones Newswires reported.
Remington-Hobbs also pointed to a weaker dollar on Tuesday, as a contributor to gold and silver's strength on the day.
Hopes that Ireland's emergency budget will pass through its parliament and clear the way for an international bailout plan helped to boost the euro Tuesday.
The dollar was mostly lower, but did manage a small bounce against the yen as early speculation over a Chinese rate hike subsided, Dow Jones Newswires wrote.
Events in Ireland remained a key element in the market as it appeared that the country's coalition government would get just enough support to ensure that its €6bn of spending cuts get parliamentary approval. Passage of the budget is needed before the debt rescue package from the European Union and the International Monetary Fund can be implemented.
"The vote for the budget is crucial since it is a prerequisite to the activation of the EU/IMF assistance mechanism," said Oscar Bernal, an economist with ING Financial Markets in Brussels.