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Capital Drilling Plc

Gold hits fresh multi-year tops, around $1460 area

Gold prices edged higher through the early European session on Monday and climbed to fresh multi-year tops, around the $1459-60 region, in the last hour.

After a brief pause on Friday, the precious metal regained positive on the first day of a new trading week and built on last week’s solid rebound from the $1400 neighbourhood – tested in reaction to a hawkish rate cut by the Fed. A sharp deterioration in the global risk sentiment, amid a fresh escalation in the US-China trade disputes, turned out to be one of the key factors benefitting the precious metal’s perceive safe-haven status.

Capital Drilling Ltd (LON:CAPD) provide complete exploration and production drilling solutions to customers within the global minerals industry, with a focus on the African markets & gold mining.

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