Gold prices continued to rally on Monday, heading toward the highest since February 2012, after massive inflows into gold-backed ETFs in the US.
Gold for delivery in August, the most active contract on the Comex market in New York, touched a high of $1,779 an ounce, the highest since February 2012.
The World Gold Council reported that Friday saw a massive 27.3 tonnes (974,000 ounces worth more than $1.7 billion at today’s prices) inflow into gold-backed exchange traded funds (ETFs).
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.