UPDATE 1-South African rand steady after foreign reserves data

(Updates to reflect afternoon trade) JOHANNESBURG, Oct 7 (Reuters) – The South African rand was steady on Tuesday, after central bank data showed that the country's foreign reserves increased last month. At 1411 GMT the rand traded at 17.21 against the dollar , about 0.2% weaker than Monday's close. South Africa's net foreign reserves rose to $67.865 billion at the end of September from $65.899 billion in August. Nedbank economists had expected the international liquidity position to increase only to $67.5 billion. The dollar last traded 0.4% stronger against a basket of currencies, while gold hit a record high on Tuesday as uncertainty over the U.S. government shutdown kept traders on edge. "Domestically, SA has struggled to take full advantage of the commodity boom cycle, but that does not mean it is not positively influencing the currency," said ETM Analytics in a research note. The currency has remained resilient despite investor concerns over the renewal of a flagship U.S. trade initiative with Africa called AGOA. South Africa's benchmark 2035 government bond was firmer, as the yield fell 6 basis points to 9.16%. (Reporting by Sfundo Parakozov and Anathi Madubela Editing by Toby Chopra and Peter Graff)

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