This week's focus on South African miners revealed some intriguing movements. The J210 index, which includes the top 10 resource shares, initially showed a decline of 0.5% on Monday morning, suggesting potential overbought conditions.
Mid-week, the release of the US CPI data, which remained flat, coupled with lower jobless claims, led to a surge in gold prices. This development provided a temporary boost for miners, showing promise on Thursday. However, despite this positive shift, the sector has seen a 0.3% decline today.
In summary, while the miners showed some mid-week optimism, the sector has experienced a slight downturn, reflecting the complex interplay of global economic factors.
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