BLBG:AngloGold, Gold Fields, Harmony Surge as Gold in Longest Rally Since 1980
AngloGold Ashanti Ltd. (ANG), Africa’s largest gold producer, rose to a six-week high in Johannesburg trading as the metal had its longest run of gains since 1980. Gold Fields Ltd. (GFI) and Harmony Gold Mining Co. also increased.
AngloGold climbed 2.7 percent to 314.75 rand at 12:36 p.m. local time. Gold Fields traded at its highest price since June 2, rising 1.9 percent to 109.10 rand, while Harmony advanced 1.4 percent to 100.02 rand, the highest since May 3.
Gold gained for an 11th day, increasing as much as 0.5 percent to $1,600.80 an ounce as debt concerns in Europe and the U.S. boosted demand for the metal as a protection of wealth. Bullion climbed to all-time highs in euros and pounds and silver topped $40 an ounce.
To contact the reporter on this story: Stephen Gunnion in Johannesburg at sgunnion@bloomberg.net
To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net
