Gold stocks shine as bullion price climbs

Johannesburg-South Africa (Oct 28)  Shares of major gold producers advance as spot gold hovers near five-week highs on confidence the US Federal Reserve will stick with its bullion-friendly stimulus measures at a policy meeting later this week.

Johannesburg's index of gold companies is up 3 percent with Africa's largest gold producer, AngloGold Ashanti, rising 3.3 percent to 159.49 rand.

Gold Fields and Harmony Gold both gain close to 2.5 percent while Sibanye Gold books an increase of 5 percent to 14.70 rand.

Spot gold is trading at $1,353 an ounce, having touched $1,354 earlier in the day.