Economy

Rand flat, investors eye commodity prices, trade talks

Date: Jul 9, 2025

The South African (SA) commodity-driven Rand was steady in early trade on Wednesday, with investor focus on precious metal prices, which fell after United States (US) President Donald Trump's latest tariff threats.

On Tuesday, Trump said he would impose a 50% tariff on copper, hoping to boost US production of a metal critical to electric vehicles, military hardware, power grids and many consumer goods.

At 09h26 CAT the Rand traded at 17.7950 against the Dollar, a whisker away from Tuesday's close.

SA is a major producer of minerals, precious and base metals and its Rand, like other commodity-linked currencies, will be closely tracking developments from Washington.

Prices of spot gold, platinum and copper outside the US fell in early trade.

Compounding pressure on the Rand is the country's attempts to negotiate a less damaging trade deal with the US before the extended August 1 deadline, as it faces a 30% trade tariff on its exports to the US
Trump also reiterated on Tuesday his threat of 10% tariffs on the Brazil, Russia, India, China and SA bloc.

Its benchmark 2035 government bond was little changed in early deals, with the yield down half a basis point at 9.89%.

--Reuters--

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