Gold prices edged higher in Indian markets, extending gains to the third day on signs that US lawmakers could agree on a new stimulus package before the November 3 election. December gold futures on MCX rose 0.27% to ₹51,047 per 10 gram while silver futures gained 0.6% to ₹63,505 per kg. In the previous session, gold had risen by about 0.45% while silver jumped 1.6%.
In global markets, gold rates edged higher on renewed hopes of a US stimulus package. Gold was also supported by a weak US dollar. Spot gold rose 0.3% to $1,912.11 per ounce while silver gained 0.7% to $24.82 per ounce and platinum rose 0.3% to $873.89.
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.