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The rand strengthened on Friday and was headed for a weekly gain of over 1% against the dollar. The move followed the standoff between the West and Russia over Ukraine, which lifted gold prices as investors sought safe havens.
Geopolitical risk supports gold and South Africa's terms of trade, which helps the rand. This has only a minor effect on feed ingredient prices.
moneyweb.co.zaAlexander Winning, Rachel Savage, ReutersFeb 18, 2022Not enough comparable past events yet for a historical read.
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.
