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South African rand lifted by gold as markets reflect on US-China trade tension
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South African rand lifted by gold as markets reflect on US-China trade tension
Oct 13, 2025 7:55 AM

JOHANNESBURG, Oct 13 (Reuters) - The South African rand

was buoyed by record gold prices on Monday as investors opted

for the safe-haven metal after U.S. President Donald Trump

renewed tariff threats against China.

The commodity-backed currency fell about 1.7% after Trump's

announcement on Friday, but has tried to pare some of its

losses.

At 1422 GMT, the rand traded at 17.3425 against the dollar

, roughly up 1% on Friday's close, while the greenback

last traded 0.2% stronger against a basket of currencies.

Like other risk-sensitive currencies, the rand often takes

cues from global drivers such as U.S. policy and economic data.

"Risk appetite appears to be back at this week's start, so

one should expect the ZAR to make a modest recovery," said ETM

Analytics in a research note.

Domestically-focused investors will look to a business

confidence survey, mining production data and retail

sales figures this week for clues to the health of

Africa's largest economy.

"A harsh reminder of the opportunity cost SA has suffered

will likely come in the form of the latest mining production

data later this week, highlighting SA's inability to take

advantage of the commodity price boom," said ETM Analytics.

On the Johannesburg Stock Exchange, the Top-40 index

was last up 0.8%.

South Africa's benchmark 2035 government bond was

slightly stronger as the yield fell one basis point to 9.115%.

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