welcome back to our weekly update I'm Charlotte McLeod with the investing News Network and I'm here to give you a quick look at our top stories for the week [Music] the gold price has cooled down after market turmoil allowed the yellow metal to break the 2000 per ounce Mark not once last week but twice gold is only past this key level a couple of times in the past first in July 2020 amid Global covid-19 pressures and next in February 2022 on the back of Russia's invasion of Ukraine now Market


Watchers understandably want to know what's next I asked David Morgan of the Morgan report to share his thoughts here's what he said once you get into the new eye so we'll call it 2060. then the algorithms kick in the algorithms know that the momentum play is whenever you make a new high there's no upward resistance so even a little bit of buying will drive it higher and when you get another new high then everyone says oh Gold's on a run how far will it go and there's no


selling I'm exaggerating slightly but there's not that much selling and so then a little bit more buying or a lot of buying we'll take it even higher so now you're in another position geez scolds up to a new high and a week later it's a new high and the day if that's a new high in the day after that's the new high that gets excitement in the market it can get these parabolic roofs that we've seen in basically all the bodies have done it at one time or another but


this is a special case because we're looking at a banking prices slash failure slash problem I'll leave a link to the full interview with David in the video description we've been talking a lot about M A in the gold space lately but this week brought a major move in the lithium sector limetown resources set on March 27th that it's rejected an indicative proposal from major producer Albemarle according to Lion Town Albemarle wanted to acquire all the company's shares at a price of 250 each liontown believes the


amount is a substantial undervaluation although it does come in above Al moro's previous two offers of 235 per share on March 3rd of this year and 220 per share on October 20th of last year explaining its stance lion Town calls albemaro's approach opportunistic given the recent softness in companies exposed to the lithium sector the company also highlights ongoing activity at its Flagship Kathleen Valley Project in Western Australia saying that the asset is being de-risked as mining operations start up and as construction


continues on schedule Kathleen Valley is set to deliver its first output in mid-2024. albemarle's bid amounts to 3.7 billion in U.S dollars the fact that lion Town shot it down has sparked commentary on exactly how much large producers may have to pay if they want to add Advanced properties to their portfolios we'll be watching closely to see how the story develops so stay tuned for more updates that's all for this week if you like this video make sure you subscribe to our Channel and turn on notifications so


you don't miss future updates and interviews you can also follow us on social media or click below for our report or any article mentioned in this video we'll see you next time foreign foreign