South Africa Stocks in Sweet Spot as Gold, Rand Gain, BofA Says

South African stocks’ record 12-month winning streak has further to go thanks to booming metals prices and the firmer rand, according to Bank of America Corp.

The South African benchmark touched a fresh record high Monday, bolstered by gains in gold and silver after the US and Israel attacked Iran. While index pulled back as the session went on, it still outperformed the broader emerging markets gauge on the day.