Gold stocks fall after wage demands
Johannesburg (May 20) Shares in South African gold producers fell more than 2 percent on Monday
after the National Union of Mineworkers said it would seek pay rises of up to 60 percent,
raising the prospect of fresh strikes as firms battle costs and falling prices.
AngloGold was down 2.38 percent at 158.15 rand by 0710 GMT, while Gold Fields fell 2.64
percent to 53.88 rand, its lowest in 4-1/2 years. The shares were also reacting to bullion's
spot price which hit one-month lows.