Spot gold fell 0.9% to a new 11-month low, after holding steady earlier in the session.

The precious metal has hovered in a narrow trading range since late last week as a gauge of the greenback retreated for three straight sessions.

The Chilean miner could own 70% of the Tanacross copper-gold project in Alaska, by spending $30 million on exploration over eight years.

The new company, known as NewRange Copper Nickel LLC, will share costs to develop two proposed copper and nickel mines.

Early indications are that Idaho offers multiple encouraging deposits with opportunities to supply the North American EV supply chain.

Biden will outline his moves in a speech Wednesday at a shuttered coal-fired power plant in Massachusetts.

“It was pretty widespread” on the precious-metals trading desk, said Corey Flaum, a gold and silver trader.

Prices bounced as much as 0.9% on Monday as the dollar declined for a second day.