Local gold futures rose to 56,245 rupees per 10 grams, surpassing the previous record of 56,191 rupees hit in August 2020.

Canada has been seeking to woo foreign investment the EV supply chain.

India imported 20 tonnes in December, down from 95 tonnes a year ago.

Maaden owns 75% and Alcoa holds 25% of the massive aluminum complex in Saudi Arabia.

India has identified one copper and two lithium mines in Argentina to either acquire or secure long-term leases, Reuters sources say.

Most refiners in the world's second-biggest consumer of the precious metal have suspended operations.

Partnership could see Saudi investment in the UK’s manufacturing and mining finance sectors.

"I don’t think anywhere is perfectly safe to invest right now," said Barrick Gold CEO Mark Bristow.