Rand stronger as green­back weak­ens

The Star Early Edition - - MARKETS - Reuters

THE firmed yes­ter­day as the dol­lar weak­ened ahead of a news con­fer­ence to­day by US Pres­i­dent-elect Don­ald Trump.

At 5pm, the rand was bid at R13.6409 to the green­back, 3.56c stronger than at the same time on Mon­day.

In fixed in­come, the yield for the bench­mark gov­ern­ment bond due in 2026 de­clined.

Mean­while, gold ral­lied to its high­est level in more than a month yes­ter­day.

The mar­ket is look­ing for more clues on Trump’s spend­ing plans in the first speech since his shock win in Novem­ber.

Gold, of­ten seen as an al­ter­na­tive in­vest­ment dur­ing times of po­lit­i­cal and fi­nan­cial un­cer­tainty, ben­e­fited from the risk-averse sen­ti­ment in the mar­ket. Spot gold hit its high­est since Novem­ber 30 at $1 190.46 (R16 316) an ounce.

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