Going deep under cover…

Junior miner, DRDGold (+9.70%) led the surge, while resource giant, BHP Billiton (+2.80%) contributed largely to the rally in the resource index (+1.53%) yesterday.

The Efficient Group reports that the rand continued its sliding trend as it lost 3 cents and 5 cents against the dollar and pound respectively. On the commodity market, the gold price (+0.24%) looked like it made a decision to move above the $420 per ounce level.

Oil (+1.03%) continued its indecisive run as it rose with $0.50. US equity market closed mixed after the minutes of the last Federal Reserve meeting were released yesterday. The NASDAQ (+0.25%) believed that the minutes reflected steady economic growth ahead.

The main industrial index on the Paris Stock Exchange, the CAC 40 (-0.39%) lost 16 point in yesterdays trading session. Steelmakers are currently dragging the Nikkei 225 (-1.17%) down as concerns are intensifying that competition will lead to reduced revenues.

Consumer inflation at 11 o’ clock will get all the attention from traders this morning.