Gold prices received a slight boost on Monday amid the market frenzy over its sister metal silver, whose price surged more than 11% earlier to an 8-year high.
Spot gold rose 0.8% to $1,863.70 an ounce by 11:50 a.m. EST, trading at a near two-week high. US gold futures on the Comex were also 0.8% higher at $1,865.50 per ounce.
Speaking to CNBC on the latest silver rally, Commerzbank’s head of commodities research Eugen Weinberg said the buying craze could go on for some time, with other metals and commodities also seeing rallies.
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.