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The rand strengthened to 16.82 per dollar after Trump said Washington and Tehran held constructive talks and that he had backed down from targeting Iran's power network. Gold pared losses as the rand rallied.
Easing Middle East tensions lower oil-driven inflation risk and support the rand, reducing import costs for South African feed buyers.
reuters.comMar 23, 2026Not enough comparable past events yet for a historical read.
After 255 past bearish geopolitics events, Crude Oil (WTI) moved a median -2.4% over 5 sessions (31% higher; middle half -7.0% to +1.7%), and -5.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
