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Gold boosts South African rand

ByVictoria

South Africa’s commodity-backed currency edged up on Monday, helped by higher gold prices, as investors digested last week’s unexpectedly weak U.S. jobs data and awaited tariff updates ahead of the United States’ August 8 deadline.

The bourse was boosted by South African miners, including Gold Fields , up 8%, AngloGold Ashanti (AU.N), at 6%, and Harmony Gold , which rose 7%.

“Our foremost priority is protecting our export industries. We will continue to engage the U.S. in an attempt to preserve market access for our products,” President Cyril Ramaphosa said in a newsletter on Monday

Source – Reuters

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