Gold prices inched higher on Wednesday, extending gains from the previous session after data showing a bigger-than-expected rise in U.S. inflation boosted bullion’s appeal as a hedge against it and weighed on the dollar and Treasury yields.
Spot gold rose 0.2% to $1,747.49 per ounce by 0125 GMT. U.S. gold futures were steady at $1,747.40 per ounce.
Consumer prices in the United States soared by the highest in more than 8-1/2 years in March, setting off what most economists expect to be a fleeting spell of higher inflation.
Caledonia Mining Corporation plc (LON:CMCL) is a profitable cash generative gold producer with a strong growth profile, Caledonia’s primary asset is the Blanket Mine in Zimbabwe.