Gold jumped more than 1% on Monday as expectations of a large U.S. economic stimulus package bolstered bullion’s appeal as an inflation hedge.
Spot gold rose 1.1% to $1,831.28 per ounce by 2:23 p.m. EST (1923 GMT). U.S. gold futures settled up 1.2% at $1,834.20.
U.S. President Joe Biden and his Democratic allies in Congress cleared the path for a $1.9 trillion COVID-19 relief package as lawmakers approved a budget outline that will allow them to muscle the plan through without Republican support.
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.