South Africa's rand firmer ahead of economic growth data

JOHANNESBURG (Reuters) - South Africa's rand gained against the dollar in early trade on Tuesday, with demand spurred by higher gold prices globally ahead of second quarter economic growth figures and the August purchasing managers' index. At 0630 GMT the rand was 0.3 percent weaker at 12.9450 per dollar compared to a close of 12.9800 overnight in New York. Gold prices hovered near their highest levels in close to a year, as North Korea's most powerful nuclear test to date underpinned haven demand for the precious metal, supporting commodity currencies like the rand. The rand remained below the important 13.00 technical support mark for a second straight session, indicating positive momentum, but analysts said light trade volumes could exaggerate moves in either direction. Second quarter GDP data at 0930 GMT is expected to show Africa's most industrialised economy bounced back from two consecutive quarters of contraction, which could support the currency. Stocks were set to open flat at 0700 GMT, with the JSE securities exchange's Top-40 futures index barely changed. In fixed income, the yield on the benchmark government bond due in 2026 fell 0.5 basis points to 8.51 percent. (Reporting by Mfuneko Toyana; Editing by Gareth Jones)