Gold futures enjoyed modest weekly gains, despite slowing US inflation gains and Fed optimism. The yellow metal has been struggling in recent months due to the US central bank’s aggressive and hawkish campaign. Gold prices could look towards the institution’s potential move to ease higher interest rates. The price of gold started this week’s trading, rising to the resistance level of 1863 countries for an ounce, after it recorded the support of 1840 dollars an ounce last week.
All in all, the price of gold recorded a weekly increase of about 0.7%, keeping its year-to-date gains intact at around 1.5%. In the same performance, the prices of silver, the sister commodity to gold, rose above the level of $ 22 at the end of trading last week. Accordingly, the price of the white metal also recorded a weekly support by about 2.5%, to reduce its loss since the start of the year 2022 to date to less than 5%.
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.
