Graphite One enters supply deal with Lucid Group

"The main thing helping gold right now is market expectations that the Fed may actually decide to cut earlier than September," an analyst said.

During the April-June quarter, spot gold averaged $2,335.87 per ounce, 18% higher than the same period last year.

Investors will keenly scrutinize CEO Duncan Wanblad on Thursday as he gives an update on the miner's strategy.

The company benefited from higher copper prices.

Energy Permitting Reform Act of 2024 could speed up approvals of clean-energy, pipeline and electricity transmission projects.

A senior White House adviser said lifting that punishment is necessary to open up the assets to new investments that support US interests.

Spot bullion traded just under $2,400 an ounce, erasing earlier gains.

Industry leaders have pushed for two pricing structures for several years.

The price of the material that’s vital to the energy transition has plunged by around 80% since late 2022.