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%.