Rand set for second day of gains
Gold eased from nine-year highs on Thursday, helping emerging-market currencies to recover some ground
The rand was firmer on Thursday, on track for its second day of gains as a resurgence in Covid-19 cases put pressure on the dollar. Gold has maintained its rally as investors seek refuge in the precious metal.
Global coronavirus cases have now topped 12-million, with some countries that have been relatively successful in containing infections also now affected. Investors are concerned that rising infection cases might lead to lockdown restrictions being implemented again, thus slowing down economic recovery.