Vedanta to invest $2 billion in Saudi copper projects
Investment agreement is one of nine metals and mining deals, totalling over $9 billion, signed by Saudi Arabia with global mining companies.
Bullion was ripping higher in Asian trade on Monday with the gold price scaling the crucial $1,300 level for the first time in a month.
A number of observers say the relatively rare occurrence of backwardation in the gold futures market means that physical demand is about the overwhelm the over-leveraged bullion banks and an imminent short squeeze of epic proportions will send prices soaring again.
