The JSE opened strongly on Thursday as gold shares rocketed on firmer US and Asian markets.

Markets were supported by renewed dovish comments from US Federal Reserve officials. Federal Reserve Bank of New York president William Dudley said financial conditions had tightened considerably in the weeks since the Fed raised interest rates and monetary policy makers would have to take that into consideration should they persist.

In addition‚ the weakening outlook for the global economy and any further strengthening of the dollar could have “significant consequences” for the health of the US economy‚ he said.

The Dow Jones ended Wednesday up 1.13% in exceptionally volatile trade as the index first shed 163 points before closing 183 points firmer. The S& P 500 was up 0.50%.

The Dow is down 6.25% so far this year.

The Hang Seng index recouped Tuesday’s substantial losses‚ adding 1.47% and the Shanghai Composite index was up 1.53%.

Momentum SP Reid said in an early morning note that Wednesday’s session on the JSE was characterised by “remarkable intraday volatility“. Trade on US markets was also volatile on Wednesday‚ Momentum said.

“The higher level of price inconsistency and volatility is likely to remain in place in the weeks ahead.”

At 9.30am‚ the all share was 1.72% higher at 49‚368.90 and the blue-chip top 40 was up 1.57%. The gold index surged 8.12% as the gold price traded at a three-month high. Platinums climbed 7.21% and resources were up 5.82%. Banks added 2.21% and financials gained 1.62%.

Among individual on the JSE‚ Vodacom was 1.19% higher at R150.25. The group reported on Wednesday that total data customers rose 14.5% to 30.3-million in the December quarter.

MTN added 3.56% to R131.90.

Anglo American gained 7.11% to R67.78.

Sasol rose 5.76% to R422.59. The Brent crude price was 0.31% firmer at $35.50 a barrel in early morning trade.

Steel producer ArcelorMittal surged 13.20% to R7.90.

Among gold stocks‚ AngloGold Ashanti rose 10.17% to R162.10.

FirstRand was up 2.36% at R42.87.

Among property stocks‚ Resilient was 1.82% firmer at R117.09 after reporting dividend growth of 25% for the interim period to end December.