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Rand Tracks Gains In Yellow Metal

ZAR

Further gains for spot gold have helped USD/ZAR extend losses to a new intraday low of ZAR18.0631 before the pair ticked away from there. These moves came on the back of below-forecast U.S. PPI data released some half an hour ago. The Rand remains comfortably the best performer in the EMEA space today.

  • BBG precious metals index has surged to levels last seen a year ago, with spot gold soaring to a new cyclical high of $2,046/oz. Spot USD/ZAR trades near session lows at typing, last at ZAR18.1042, down 3,150 pips or 1.7% on the day.

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