Gold prices rose on Tuesday as surging COVID-19 cases and restrictions weighed on investors’ appetite for traditionally riskier assets and boosted bets for further stimulus ahead of the Federal Reserve’s policy meet.
Spot gold rose 0.7% to $1,839.20 per ounce by 0705 GMT, while U.S. gold futures gained 0.6% to $1,843.80.
The pandemic continued to spread globally, prompting tighter restrictions in the Netherlands, Germany and London, while deaths crossed 300,000 in the United States, pushing Asian equities to a more than one-week trough.
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.