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CALEDONIA MINING CORPORATION PLC COM SHS NPV (DI)

Gold futures rise on spot demand

Gold prices on Thursday rose by Rs 678 to Rs 47,304 per 10 gram in futures trade as speculators created fresh positions on firm spot demand.

On the Multi Commodity Exchange, gold contracts for August traded higher by Rs 678, or 1.45 per cent, to Rs 47,304 per 10 gram in a business turnover of 14,433 lots.

The yellow metal for October delivery edged up by Rs 657, or 1.4 per cent, to Rs 47,468 per 10 gram in a business turnover of 5,489 lots.

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.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.