Fed Says Tariff Concerns Cloud Otherwise Solid U.S. Outlook

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Gold Silver Reports (GSR) – Fed Says Tariff Concerns Cloud Otherwise Solid U.S. Outlook — New tariffs and concerns “Outlooks remained positive, but contacts in various sectors including manufacturing, agriculture and transportation expressed concern about the newly imposed and/or proposed tariffs,” the Fed said in its Beige Book report released Wednesday in Washington. That concern was later echoed by New York Fed President William Dudley, who told an audience in the Bronx that a tariff war would be a “terrible outcome” which the U.S. couldn’t win.

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Prime Minister Narendra Modi Addresses Indians In London

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Gold Silver Reports (GSR) – Prime Minister Narendra Modi Addresses Indians In London — Indians Are Becoming Aspirational’ — Prime Minister Narendra Modi said that people have more expectations of his government because they trust that it can deliver. “People know that when they say something, the government will listen and do it,” he said.

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Crude Oil Rises Amid Shrinking U.S. Surplus as OPEC Prepares to Gather

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Crude Oil MCX

Gold Silver Reports (GSR) – Crude Oil Rises Amid Shrinking U.S. Surplus as OPEC Prepares to Gather – Futures in New York briefly surged almost 3 percent on Wednesday to the highest since 2014. An Energy Information Administration report showed shrinking American petroleum surpluses and the first crude withdrawal from the largest U.S. storage complex in six weeks. The U.S. draw-downs underlined optimism that an OPEC-led effort to curb global supplies will be reinforced later this week when the cartel and allied producers gather in Saudi Arabia.

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Canada Oil Recovery Faces Threat From Potential Rail Strike

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Gold Silver Reports (GSR) – Canada Oil Recovery Faces Threat From Potential Rail Strike — On Tuesday, the Teamsters Canada Rail Conference and the International Brotherhood of Electrical Workers each gave Canadian Pacific a 72-hour strike notice informing the company of their plans to strike at 12:01 a.m. eastern time on April 21.

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Metals Gripped by Turmoil as Rusal’s Sanctions Fallout Spreads

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Gold Silver Reports (GSR) – Metals Gripped by Turmoil as Rusal’s Sanctions Fallout Spreads — Consumers, manufacturers and traders are scrambling to secure supply cut off by Rusal, the largest aluminum producer outside China. Aluminum reached a six-year high and nickel jumped the most since 2009. Alumina, a raw material needed to make aluminum, notched a fresh record.

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