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Gold prices jump today

Gold and silver prices gained on Tuesday as escalation of hostilities between the US and China forced investors to seek refuge in the safe haven counter. A sharp increase in Covid-19 cases also triggered investors’ migration to precious metals.

China’s foreign ministry office in Hong Kong and the city’s security chief defended proposed security laws by describing some acts in mass pro-democracy protests last year as terrorism.

The proposed legislation could lead to US sanctions on Hong Kong and China, and threaten the city’s status as a financial hub, White House National Security Adviser Robert O’Brien said on Sunday.

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.