By Garth Theunissen Dec. 24 (Bloomberg) -- South Africa’s rand climbed to a one-week high as higher prices for gold and platinum, the country’s biggest exports, boosted earnings prospects for the world’s biggest producer of precious metals. The currency of Africa’s biggest economy gained as much as 1.8 percent to 7.4732 per dollar, the strongest intraday level since Dec. 17. The rand traded 1.7 percent stronger at 7.4818 by 12:32 p.m. in Johannesburg, from 7.6085 yesterday. “We’ve seen the dollar dropping a bit, which is obviously supportive of commodity prices,” said Henre Herselman, a derivatives trader at BOE Stockbrokers in Johannesburg. “That’s a good underpin for the local market on a day when trading volumes are very thin.” Gold, which accounts for about 22 percent of South Africa’s export revenue along with platinum, gained the most in seven days as a weaker dollar encouraged investors to buy precious metals as an alternative investment. Platinum climbed as much as 2.7 percent to $1,460.13 an ounce. Government bonds were little changed, with the yield on the benchmark 13.5 percent security due September 2015 remaining at 8.44 percent. The bond’s price rose 1 cents to 122.57 rand. Financial markets closed at 12 p.m. in Johannesburg today. To contact the reporter on this story: Garth Theunissen in Johannesburg gtheunissen@bloomberg.net

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