“The precious metal pushed back above $2,600/oz, suggesting the market saw the selloff as overdone,” ANZ Research analysts said in a note to clients. “Nevertheless, the market will take some time to adjust to the pivot the Fed appears to have taken on rates.”
Source – BARRONS
“This we hope will be reality in a three to five year period,” PolyMet’s Warren Hudelson told MPR News in 2004.
Now, 20 years later, the controversial mine in northeast Minnesota still hasn’t opened. It hasn’t even begun construction, because three key permits it needs to advance — approvals state and federal agencies granted more than five years ago — have since been revoked or suspended.
Source – MPRnews
Major stock indexes rallied, the dollar gained against the euro and other currencies while safe-haven gold dropped on Wednesday as investors grew optimistic about a possible de-escalation in the trade war between the U.S. and China.
“There seems to be some light at the end of the tunnel here in terms of the trade war,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
The euro was last down 0.36% against the dollar at $1.1379. Against the Japanese yen, the dollar strengthened 0.49% to 142.28.
U.S. Treasury yields declined after the U.S. administration’s signal of a potential respite in the U.S.-China trade war and Trump’s softening stance on Powell.
Source – Reuters
The Ministry of Commerce and Industry said in a statement Thursday it revised import figures from April to November after discovering the discrepancy, which had resulted from migrating to a new data transmission system.
The miscalculation led to a four-fold increase in gold imports to a record $14.8 billion in November, causing the trade deficit to widen to $37.8 billion.
Preliminary revisions show gold imports were $37.39 billion in the April-November period, down $11.7 billion from previously reported.
Source – Bloomberg / Live Mint
Twangiza Mining, a gold miner operating in the rebel-controlled South Kivu Province in the eastern Democratic Republic of Congo, said it has been ordered to suspend operations by the rebel administration, according to a company-wide letter seen by Reuters.
Manu Birato, who was recently installed as M23 governor of the South Kivu Province, said Twangiza Mining must adapt to new regulations and pay taxes they have not been paying.
“We are in talks with them and showing them that from now on they must start paying taxes,” Birato told Reuters.
Source – Reuters
Circulation finish 2025-P and 2025-D Kennedy half dollars in bags and rolls are scheduled to go on sale from the United States Mint at noon Eastern Time May 6.
The mixed 200-coin canvas mini-bags comprise 100 coins each produced at the Denver and Philadelphia Mints.
The $100 face value bags are priced at $154.50 per bag, with a maximum release of 11,550 bags and a household-order limit of 10 bags.
Source – Coin World
China, the biggest steel maker, is not a top direct exporter of steel to the U.S. but Trump said that China’s exports had forced others to ship more to the U.S., while rising imports “support a conclusion” of transshipment or processing of steel products via third party countries into the U.S.
“Today is a great day for the U.S. aluminum industry,” said Mark Duffy, president of the APAA.
“Unfair trade practices have devastated the domestic aluminum industry and President Trump’s actions today will protect thousands of American workers and their families.”
Source – Reuters
