Bullion is now closing in on its 50-day moving average after surging Monday.

South32 aims to accelerate development of the first new US manganese mine for decades as carmakers rush to secure supply of the metal needed in EV batteries.

Prices surged almost 9% on Monday.

Coal remains a leading fuel in US power plants, and the soaring prices will ratchet up pressure on US homes already struggling with record-high electricity bills.

Bullion kept its momentum going and extended its first weekly gain in three.

Lithium demand is forecast to almost triple by mid-decade from last year’s level, BloombergNEF said in a July report.

Makers of everything from automobiles to beverage cans to kitchen appliances are holding off booking next year’s aluminum orders.

It goes without saying that the recent appreciation of the greenback has weighed on gold prices.