Gold price has rallied to its one-year high, breaching the ₹51,000 per 10 grams mark in February as demand for safe haven assets went up after Russia invaded Ukraine. On Monday, the yellow metal price was hovering around ₹51,200 per 10 grams. Gold has risen by over 7% in February. However, it is still far away from it’s all-time high of over ₹57,000 reached in August 2020 amid the pandemic.
In the international market, gold prices were set for their best monthly gains in nine months. The fresh sanctions by the United States on Russia for invading Ukraine pushed the price of yellow metal. Spot gold prices climbed 1.2% to $1,909.89 per ounce while US gold futures were up by 1.1% to $1,908.30.
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.