Johannesburg - Stocks edged lower on Tuesday, led by gold mining shares as the price of the metal slipped to its weakest level in four weeks.
The benchmark JSE Top40 index was 0.19 percent lower at 44340.33 points and the broader all share index dipped 0.23 percent to 51377.78 points.
Gold mining shares took the most points off the index as expectations for the US Federal Reserve to push ahead with a rate increase this month pressured the precious metal.
At 6.35pm last night, spot gold was at $1217.83 (R15824) an ounce.
Gold is highly sensitive to rising US interest rates, as these increase the opportunity cost of holding non-yielding bullion, while boosting the dollar in which it is priced.
Gold Fields was 3.42 percent lower at R40.10, making it the biggest decliner on the Top40 index. Competitor AngloGold Ashanti followed with a 2.6 percent decline to close at R131.57.
Platinum prices also took a hit, falling 1.08 percent to $964.25 in the afternoon.
Lonmin, the world’s third largest platinum producer, led the overall decliners, falling 9.29 percent to end the session at R14.64. The company is facing doubts over its production targets for this year, and on Monday it announced the resignation of its chief operating officer.