Gold and silver futures tallied their highest finish in a week on Wednesday, as traders looked to Federal Reserve Chairman Jerome Powell’s coming speech at the Jackson Hole, Wyo., economic summit for the precious metals’ next big catalyst.
Prices for gold had spent time early Wednesday trading lower, pressured on the back of a rise in bond yields, with losses briefly accelerating after a reading on the sale of long-lasting goods came in better than expected. Durable goods orders for July jumped 11.2%, much higher than the consensus forecast of a 4.8% increase.
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 which produced 54,512 ounces of gold in 2018 at an All in Sustaining Cost of $802/oz.