Gabriel Resources Ltd., backed by billionaire hedge-fund manager John Paulson, threatened to seek as much as $4 billion of damages should Romanian lawmakers vote to oppose its gold mine project in the country.
Gold traders are divided on the outlook for prices next week, weighing signs of an improving U.S. economy against the threat of a military attack on Syria. Two years after bullion set a record, the majority said a new peak won’t be reached in the next 24 months.
Gold and silver futures fell the most in two months as the U.S. faced opposition from Russia on a military strike against Syria, eroding demand for a haven. Platinum and palladium posted the biggest declines in 10 weeks.
As bullion went from a rally to bear market over the past five years, leaving most gold funds with losses, Tocqueville Asset Management LP’s John Hathaway made money by picking promising mining stocks early.