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South Africa Gold Miners Benefit from Slumping Rand
Feb. 02, 2012 01:12PM PST
Precious Metals InvestingBloomberg reported that gold miners in South Africa are posting gains as the value of rand sinks.
Bloomberg reported that gold miners in South Africa are posting gains as the value of rand sinks.
As quoted in the market news:
Gold companies in South Africa, the continent’s largest producer of the metal, gain from a weaker rand because they sell much of their output for dollars and pay most costs in rand.
