See, someone is trying to save the weakening $$$$!!!
May 15, 2006
JOHANNESBURG (Reuters) - South African gold and platinum mining shares skidded as much as 7.7 percent on Monday, the biggest fall in 3-1/2 years, as metals prices and stock markets got pounded on fears about inflation and the dollar.
"Given how much they've run, one could expect some of this," said fund manager Mike Schroder at Old Mutual Asset Managers in Cape Town. "There's been a lot of volatility. Prices have risen a lot. To see a correction is normal."
The gold mining index -- which had surged 125 percent over the past 12 months at its peak on Friday -- fell 6.85 percent to 2,917.91 points by 1235 GMT. This compares to a 3.53 percent fall in the blue chip Top-40 index.
Mining companies were grouped at the top of the losers column among blue chips, with Gold Fields surrendering 7.4 percent to 148.10 rand, Anglo Platinum shedding 6.8 percent to 629 rand and AngloGold Ashanti falling 6.3 percent to 322.30 rand.
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http://za.today.reuters.com/news/NewsArticle.aspx?type=businessNews&storyID=2006-05-15T134945Z_01_BAN549782_RTRIDST_0_OZABS-MINERALS-SAFRICA-GOLD-SHARES-20060515.XML