South Africa is one of the world’s largest precious metals producers, and today, as the gold and platinum rose in a session of strong risk appetite, the African nation witnessed a strong bullish pattern in its currency’s chart, as optimism among traders increased. The South African rand reached its highest rate in two weeks after the price of gold reached a record and platinum had its first rate rise in 3 days, attracting traders to purchase assets in South Africa, one of the main suppliers of gold in the world.
USD/ZAR traded at 7.39 as of 17:03 GMT from an opening rate of 7.44 today.
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