Gold climbed Monday, with a decline in Treasury note yields helping prices settle at their highest in almost two weeks, as investors awaited the outcome of the Federal Reserve’s monetary policy meeting this week for cues on the precious metal’s next move.
Adrian Ash, director of research at BullionVault, believes the recent sell-off in gold may be “taking a pause, if not nearing its end.”
With bond yields, and especially real rates, now moving sideways after the recent upturn, gold’s current levels “look sticky, because they mark an area of heavy congestion from last spring,” he told MarketWatch.
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.
