US inflation was 7.1% over the 12 months to the end of November, dropping from 7.7% in October.

Sukari is currently Egypt's largest and first modern gold mine, as well as one of the world's largest producing mines.

The bank expects gold, with its real demand drivers, to outperform the highly volatile bitcoin in the long term.

Lifezone Metals owns the Kabanga Nickel mine and refinery project, backed in January by BHP.

Will 2023 be the year that gold hits $3,000 an ounce? Ole Hansen, respected commodity strategist at Denmark’s Saxo Bank, says it’s possible.

The financing package consists of a gold and silver streaming agreement with Sprott and an equity investment by Ccori Apu SAC.

The maximum cash value of the offer now stands at 17 billion rand, up from 10 billion rand.

Data on Friday showed US producer prices rose slightly more than expected in November, reinforcing the view that the Fed may have to keep interest rates high.