Gold prices rebounded slightly as the dollar declined and US yields moved lower. The rally in the greenback is experiencing resistance following a softer than expected US jobless claims report. The Philly Fed Manufacturing Index also came in softer than expected weighing on the greenback which paved the way for higher gold prices.
Gold prices rebounded slightly following Wednesday 3% decline. Prices were unable to recapture support near the 10-day moving average at 1,964.
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.