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Greece to Bring in Egyptian Farm Workers Amid Labor Shortage

FILE PHOTO: Passengers of a flight from Amsterdam arrive at the international airport in Athens, Greece, June 15, 2020. REUTERS/Alkis Konstantinidis/File Photo
FILE PHOTO: Passengers of a flight from Amsterdam arrive at the international airport in Athens, Greece, June 15, 2020. REUTERS/Alkis Konstantinidis/File Photo
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Greece to Bring in Egyptian Farm Workers Amid Labor Shortage

FILE PHOTO: Passengers of a flight from Amsterdam arrive at the international airport in Athens, Greece, June 15, 2020. REUTERS/Alkis Konstantinidis/File Photo
FILE PHOTO: Passengers of a flight from Amsterdam arrive at the international airport in Athens, Greece, June 15, 2020. REUTERS/Alkis Konstantinidis/File Photo

Greece will start bringing in workers from Egypt this summer to take on temporary farming jobs under a deal between the countries to tackle a labor shortage, the migration ministry said on Friday.
After a decade of pain, the Greek economy is forecast to grow nearly 3% this year, far outpacing the euro zone average of 0.8%, Reuters reported.
But an exodus of workers during Greece's economic crisis, a shrinking population and strict migration rules have left the country struggling to find tens of thousands of workers to fill vacancies in farming, tourism, construction and other sectors.
Greece will take in around 5,000 seasonal farm workers under the 2022 deal signed with Egypt.
The countries have discussed expanding the "mutually beneficial" scheme to the Greek construction and tourism sectors, the Greek Migration Ministry said in a statement.

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Trump Uncertainties Push Safe-haven Gold to Near all-time Highs

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
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Trump Uncertainties Push Safe-haven Gold to Near all-time Highs

FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo
FILE PHOTO: An employee places ingots of 99.99 percent pure gold in a workroom at the Novosibirsk precious metals refining and manufacturing plant in the Siberian city of Novosibirsk, Russia, September 15, 2023. REUTERS/Alexander Manzyuk/File Photo

Gold prices soared to near three-month highs on Wednesday, trading below its record peak, fuelled by a soft dollar and lack of clarity around US President Donald Trump's policy plans, which investors fear could trigger trade wars and elevate market volatility.

Spot gold added 0.3% to $2,753.79 per ounce as of 9:45 a.m. ET (1445 GMT). Prices were at their highest since Oct. 31 when they hit their all-time-high of $2,790.15.

US gold futures gained 0.2% to $2,764.80.

The dollar index dipped to a more-than-three-week low, making greenback-priced bullion less expensive for holders of other currencies, Reuters reported.

"There are uncertainties with proposed tariffs and other things, and gold typically does well when there's a large or even a moderate amount of uncertainty in the market, it's a natural place where people gravitate to," said Ryan McIntyre, Senior Portfolio Manager at Sprott Asset Management.

Trump said his administration was discussing imposing a 10% tariff on goods imported from China on Feb. 1, the same day that he previously said Mexico and Canada could face levies of around 25%.

Gold is often viewed as a haven during times of economic and geopolitical turmoil, but Trump's proposed policies are broadly regarded as inflationary, potentially compelling the US Federal Reserve to sustain elevated interest rates for an extended period to rein in rising price pressures.

Trump has not provided many details about his proposed tariffs, making investors question the aggressiveness of the move, and the depth of its potential impacts.

"(Trump) has been perhaps just a shade less hawkish on tariffs as feared which helps - less/lower tariffs is taken to indicate lower inflation hence potential for more rate cuts," said Tai Wong, an independent metals trader.

Spot silver fell 0.6% to $30.68, but hovered near a one-month high hit on Jan. 16.

Platinum rose 0.3% to $946.50 and palladium gained 1.9% to $975.27.