SA Blue-Chip stocks fall more than 2%

South Africa’s blue-chip stocks fell more than 2% to a week’s low in early trade on Monday as a drop in commodity prices weighed on miners. The Johannesburg Top-40 index was down 2,08% to 24340,45 points at 0856GMT, while the broader All-Share index shed 1,88% to 26876,13 points.

“It’s largely on the huge fall we have seen on the commodity prices,” said Michael Carlsson, a portfolio manager at Consilium Capital.

Gold fell to a week low under $1150 an ounce as investors grew cautious about the outlook for the precious metal after last week’s dollar rally. Platinum (XPT=) traded at $1429 an ounce, hitting more than a week low.

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