Risk-on sentiments drags gold price, local counters




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The rand, trading above R15 to the dollar, was also in reactionary mode.

For much of the day, markets were firmly in the red. There were many drivers to the weakness in global markets: Argentina, the US-China trade war and Hong Kong protests as well. Towards the end of the local trading day, equities markets got a buoy back in their step and risk-on sentiment took hold. 

Unfortunately, the Alsi didn’t register the gains at the close, declining by a third of a percent. Due to the risk-on sentiment, that took over, the gold price lost around half a percent to trade around $1,502/oz, but gold counters really got hit, falling 9%.

To discuss the kind of catalysts investors need for sentiment to pick up,  Nompu Siziba speaks with Petri Redelinghuys, the founder, at Herenya Capital.

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