S. AFRICAN RAND SLIPS ON MARKETS

S. AFRICAN RAND SLIPS ON MARKETS

The rand slipped against most currencies Tuesday as dealers reeled from Monday's disastrous slide in gold prices and waited for worse to come.

The rand opened at $2.6635-50, down from $2.6550-60 at Monday's close, but the real buffeting was in the gold market.The precious metal opened at $367.5-368 an ounce, up from Monday's low of $362.5, but riding for a fall, according to analysts.

Massive Saudi Arabian selling of gold for sterling, coupled with Soviet gold sales, reportedly ahead of the Soviet Union's much-vaunted plan to make the ruble fully convertible, were certain to hit the market again Tuesday, dealers said.