Gold prices jumped more than 1% on Thursday as a pullback in the dollar and U.S. Treasury yields provided support ahead of a key U.S. jobs report that could influence the Federal Reserve’s policy stance.
Spot gold was up 1% at $1,781.83 per ounce by 1128 GMT, While U.S. gold futures rose 1.2% to $1,798.20.
There are factors building that could be supportive to gold in the short term, including recession concerns, OANDA analyst Craig Erlam said.
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.