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.

If you have any questions, comments or opinions regarding the South African Rand, feel free to post them using the commentary form below.