Gold's rally powers South African stocks to record

Shares of precious metals miners in South Africa surged as gold hit new all-time high. The South African benchmark stock index soared to a record close on Wednesday after the yellow metal surged past $3,300 for the first time. The South African gauge is now up more than 7% this year, compared with declines of 1.4% for the MSCI emerging market stock index and 8.3% for the S&P 500.