Germany Chancellor plans lithium deal with Serbia after Rio ruling
Olaf Scholz plans to visit Serbia this week to secure supplies of lithium that are critical for the nation’s energy transition and auto industry.
Gold futures returned to above $1,800 an ounce Friday as investors sought the perceived safety of the precious metal ahead of the weekend and news emanating from Europe injected a dose of uncertainty back into markets.
Gold for December delivery added $33, or just under 2%, to settle at $1,815 an ounce in afternoon trade. Reuters reports between gold’s highs and lows this year, there is a more than $600 gap, the largest since the 1960s, though its 32% range is below the 42% range seen in 1980.
MarketWatch reports the gains came after Germany delayed approval of regulations concerning Europe’s bailout fund and the latest set of proposals on how to help Greece out of its debt crisis clouded the picture.
Reuters quotes on European banker: “I think the market will go higher, but a $100+ correction cannot be ruled out, especially if the dollar decides to strengthen even further. A pretty strong stomach might be required short-term.” .
