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Trump announces that the deadline for a final deal with Iran on Tuesday is set.
Donald Trump, the U.S. President, said that the deadline of Tuesday for Iran to reach a peace agreement is final. He called Iran's "peace proposal" significant but not enough. Trump warned that U.S. troops would launch a broad attack on Iranian infrastructure in the event his deadline of Tuesday night is not met. Iran rejected Trump's Tuesday deadline. "They made a proposal, and it is a significant one. This is a major step. "It's not good enough," Trump said to reporters at an Easter Egg event on the South Lawn of the White House. The war could be over very quickly if they do what is required. They have to?do certain?things. He said they know this, and that's why they have been negotiating in good faith. Senior aides to Trump have been in direct negotiations with Iran through Pakistan. They are trying to reach a deal where Iran would give up nuclear weapons and reopen Strait of Hormuz - the oil transit waterway. Iran wanted to end the war permanently, and not just for a short time. Trump said it appeared the latest Iranian team was "not as radicalized as other teams that have been killed in airstrikes. He said, "We believe they are actually'smarter. Trump said that if it was up to him the United States would?take control of Iran's crude oil? but he added that the?American public wouldn't understand such a decision.
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Gold prices steady as Trump's Iran War deadline approaches
Market participants were waiting to see if ceasefire talks could?avert a escalation of?the U.S.-Israeli War on Iran, as the deadline for reopening the Strait of Hormuz approaches. By 11:22 am, spot gold had not changed much from $4,669.27 an ounce. ET (1522 GMT), after falling by 1% in the earlier session. U.S. Gold futures increased 0.3% to $4694.50. The United States and Iran are weighing the structure of a plan that will end their five-week conflict as they prepare to meet a U.S. deadline. Meanwhile, Tehran is resisting pressure to reopen the Strait of Hormuz. Donald Trump, the U.S. President, has warned that he will rain "hell on Tehran" if they do not reach a deal before Tuesday. The focus will likely remain on war and interest rates. TD Securities' Bart Melek said that if the conflict continues, "oil prices will rise due to tightening of supply, which will add inflationary pressures." The Federal Reserve will have less room to relax policy, and discussions of higher rates could be revived if the energy prices continue to rise, which would be a 'negative' for gold. The oil prices rose in choppy trade on Monday. They have been rising sharply since the war began. Gold is regarded as a hedge for geopolitical risk and inflation. However, because it does not yield interest, gold tends to lose its appeal when interest rates rise. Investors will also be watching the minutes of the Fed’s March policy meeting, due Wednesday. The Consumer Price Index (CPI), due Friday, will be based on the Consumer Consumption Expenditures data (PCE). According to CME's FedWatch, the U.S. central banks held rates in December. Silver spot fell by 0.9%, to $72.32 an ounce. Platinum dropped 0.9%, to $1,971.04, while palladium fell 1.1%, to $1,486.03. Ashitha Shivaprasad reported from Bengaluru, Joe Bavier and Kirby Donovan edited.
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Oil prices drop as US and Iran consider next steps. Equities are slightly higher.
Oil prices fell in a volatile session on Monday, as investors looked for signs of a possible solution to the Middle East conflict. The U.S. was also weighing the framework of an end-of-conflict plan with Iran. The markets were closed for Easter Monday as well as Tomb Sweeping Day in many countries. But earlier that day, investors cheered up when Axios revealed that the U.S. and Iran, along with a group regional mediators, are discussing terms for a possible 45-day truce that could lead permanently to an end to the conflict, citing sources in the U.S. and Israel, and in the region who have knowledge of the discussions. The official IRNA news service reported on Monday that Iran had rejected the ceasefire, and stressed the need for a permanent ending to the war. In a social media post on Easter Sunday, U.S. president Donald Trump threatened Iran with "hell". He also said that if it didn't reopen the Strait of Hormuz by Tuesday, he would target Iran’s power plants and bridges. The market is on edge and awaiting what will happen next. Robert Pavlik is a senior portfolio manager with Dakota Wealth, Fairfield, Connecticut. He said that until we reach a concrete agreement, it's difficult to commit to investing. I liken it going into the water about chest-deep. You are not committed fully, but you have made a commitment. Wall Street was at 10:52 am. ET (1452 GMT), the Dow Jones Industrial Average grew 73.57, or 0.13% to 46,564.03, while the S&P500 rose 11.72, or 0.18% to 6,594.44, and the Nasdaq Composite grew 57.35, or 0.24% to 21,932.08. The MSCI index of global stocks rose by 1.94 points or 0.20% to 996.14. Brent crude dropped to $108.74 a barrel, a?0.27% drop on the day, and U.S. Crude fell to $110.92 per barrel. U.S. shares briefly lost some of their gains on Monday, after Institute for Supply Management figures showed that U.S. service sector growth had slowed down in March. Meanwhile, prices paid by companies for inputs rose to a near 3-1/2-year peak, an early indication that the war against Iran is causing inflationary pressures. The dollar index, which measures greenbacks against a basket including yen and euro, dropped 0.37% at 99.89. Meanwhile, the euro rose 0.33% to $1.1553. The dollar gained 0.09% against the Japanese yen to reach 159.7. The yen flirted near the 160-dollar level on Friday after Japanese Finance Minister Satsukikatayama put currency traders on alert, saying that?the Japanese government is ready to take action against speculative movements in foreign exchange markets because volatility has increased "significantly." Investors were torn between optimism about reports of a trucfire plan, and unease regarding Trump's threats to escalate attacks on Iran. The yield on the benchmark U.S. 10 year notes fell by 1.3 basis point to 4.333% from 4.346% on Friday. Meanwhile, the yield on 30-year bonds dropped by 1.6 basis points. The yield on the 2-year bond, which is usually in line with expectations of interest rates for?the Federal Reserve's, remained flat at 3.852% from 3.852% as late Friday. While Wall Street was closed on Good Friday for the holiday, Friday's U.S. Jobs Report showed that employment growth in March rebounded faster than expected, with the largest increase in over a year. As people left the workforce, the unemployment rate dropped to 4.3%. These data are confusing for the Federal Reserve. They will decide the next monetary policy in a two-day session ending on April 29, based on the new data. According to CME Group's Fedwatch, traders do not expect any rate cuts by the U.S. Central Bank until October 2027. Wells Fargo's Investment Institute said that due to uncertainty about?inflation, and increased geopolitical risk tied to the Middle East conflict, it does not expect a Fed rate reduction in 2026. It had previously forecast two cuts for this year. Silver and gold were both down, as the market awaited more signals about the U.S./Iran situation. Spot gold increased by 0.1%, to $4.680.29 per ounce. Spot silver dropped by 0.37%, to $72.71 per ounce. (Reporting and editing by Lincoln Feast; Shri Navaratnam, Keith Weir, and Lincoln Feast)
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Wells Fargo Investment Institute lowers the energy sector's rating to "unfavorable" on account of limited war premium
Wells Fargo Investment Institute has downgraded their rating for the S&P 500 Energy Sector to "unfavorable". They cited limited 'prospects' of a sustained 'oil-price premium risk premium despite?the Middle East conflict. This move comes after a gain of more than 6% in the benchmark S&P 500's energy index since the beginning of the war. It is the best performance among the 11 major S&P sector. WFII strategists stated that "Sector Performance has Improved 'Materially in 2026. Supported by an unexpected Cold Snap earlier this year, and the increase in oil prices as a response to the War... However, our base case remains a war of limited duration, which we expect will allow global energy supply return to push prices down again." The Institute also lowered its rating for the energy sector in commodities from "neutral" to "unfavorable," noting that, with oil near $100 per barrel, downside risks are dominant The company sees the recent performance of the energy sector as an opportunity to lock-in profits and reallocate them to precious and industrial metals. Global energy prices have been affected by the extended closure of the Strait of Hormuz which transports oil and petroleum products from Iraq, Saudi Arabia, Qatar, Kuwait, and the United Arab Emirates. WFII has raised its target price for Brent crude by 2026 to $75 to $85 per barrel. This is higher than the previous forecast of $65-75. (Reporting and editing by Tasim Zaid in Bengaluru, Kanchana Chkravarty from Bengaluru)
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India's Godrej Consumer could see a cost increase of up to 9% if crude and palm oil prices remain high
Godrej Consumer Products in India said that it expected costs to increase 6% to 9%, if Brent crude remains at $100 to $110 per barrel and palm oil prices remain between 4,500 to '4,800 Malaysian Ringgit per metric ton. The ongoing Middle East conflict has been a major factor in recent gains for both commodities. The cost of palm oil derivatives - a vital ingredient in soaps and personal care items - as well as packaging and freight are significant expenses for Indian consumer companies. They were just beginning to see an increase in demand after the tax relief measures implemented late last year. Brent crude futures rose on Monday to $109.13, while Malaysian palm oils futures reached $1,195.53 (4.812.11 ringgit). Consumer companies usually increase prices or reduce costs to protect margins from rising input costs. Manufacturers of Goodknight mosquito repellent and Cinthol soaps have said that they expect to offset cost increases by increasing prices and taking other measures of savings. The company expects a close-to-double-digit growth in consolidated revenue and core earnings in the fourth quarter, driven by steady domestic demand, it said. Godrej costs rose 6.3% in the third quarter to $361.49 millions. It also stated that it would meet its original bottom-line plan for fiscal 2027, while increasing revenue growth, even if costs remain at current levels. However, the company warned of further revisions should input costs continue to rise. It said that crude-led inflation would likely continue into the first half fiscal 2027. However, policy support such as tax relief measures could offset some of the impact. Peer Dabur said on Friday that growth in its international business would be in the low single digits because of the Middle East conflict.
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Gold prices almost unchanged as US-Iran tensions dominate the news
As market participants remained cautious, they awaited more signals on the U.S. - Iran situation and how it would impact global interest rates. By 9:26 am, spot gold had not changed much from $4,669.13 an ounce. ET (1326 GMT), after falling by 1% in the previous session. U.S. Gold Futures increased 0.3% to $4694.20 an ounce. The United States and Iran weighed the outline of a plan on the eve of an U.S. deadline, as Tehran resisted pressure to quickly reopen Strait of Hormuz. Donald Trump, the president of the United States, has warned that he will rain "hell' on Tehran if they do not reach a deal before Tuesday. The war and interest rates will likely remain the focus of attention. "If the 'conflict drags out,' oil?will grind up higher due to tightening supply, increasing inflationary pressures," Bart Melek said, global head for commodity strategy at TD Securities. The Federal Reserve will have less room to relax policy, and discussions of higher rates could be revived if energy costs continue to rise, which would be negative for gold. The oil prices dropped in choppy trade on Monday. However, they have been rising sharply since the start of the conflict. Gold is a popular hedge against inflation and geopolitical risk, but it's less appealing when interest rates rise. Investors are also watching the minutes of the Fed’s March policy meeting, due Wednesday. They will also be looking at U.S. The Consumer Price Index (CPI), due on Friday, is a follow-up to the Personal Consumption Spending (PCE) report. According to CME's FedWatch, the U.S. central?bank held interest rates at a steady level last month. A majority of traders do not see any chance of reducing interest?rates by the Fed this year. Silver fell by 0.4% at $72.67 an ounce. Platinum lost 1% and was $1,969.81. Palladium also dropped 1%, to $1,488.58. (Reporting from Ashitha Shivaprasad, Bengaluru. Editing by Joe Bavier.)
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US nuclear regulator ends agency-led drills at plants
Last week, the U.S. Nuclear Power Regulator voted to phase out agency-led inspections of operating reactors. A safety advocate criticized this move as a failure on the part of government responsibilities to protect Americans against attacks 'on the plants. On Friday, the Nuclear Regulatory Commission announced that it had voted to phase-out "force-on force" inspection programs. This was a program in which the agency controlled mock commando attacks to test for potential vulnerabilities at nuclear plants. After the attacks of September 11, 2001, Congress strengthened the program to require inspections at all nuclear plants every three years. The move is a result of the pressure that President Donald Trump has put on the NRC in order to approve the permits needed to quadruple the U.S. nuclear capacity by 2050, to meet the power demands of artificial intelligence, data centers and electrification. Edward Lyman is a nuclear scientist at the Union of Concerned Scientists. He said that the move was alarming, given the ongoing threats to U.S. security infrastructure, such as those caused by the conflict in Iran. Lyman explained that the NRC would only be permitted to passively watch the exercises, which will be staged by plant managers and staff. The NRC said that its update to the program "reflects strong safety and security measures already in place at U.S. Nuclear plants." The NRC said agency-led drills would?continue until 2028. After that, the plants will perform?the exercises under independent agency supervision. Lyman stated that changes to the program make it unlikely for the program to comply with the congressional mandates in order to'mitigate potential conflicts of interest' during the drills. As the program moves from a pass/fail approach to one that focuses on training, "potential conflicts of interest are reduced significantly," according to the NRC.
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Investors pressure Amazon, Microsoft, and Google over water and power usage in US data centres
Amazon, Microsoft, and Alphabet’s Google all abandoned the construction of multi-billion dollar?data centres due to community opposition. Now the companies face shareholder pressure regarding the environmental impact of the?projects. Interviews with have revealed that more than a dozen shareholders are putting pressure on tech companies to provide data about their water consumption and conservation efforts, as they look to increase computing power. Andrea Ranger said that Trillium Asset Management of Boston, with assets of more than $4 billion, had filed a shareholder resolution in December asking Alphabet to clarify how it would meet its existing climate goals, given the increasing energy requirements of their data centers. In 2020, the company committed to halving its emissions by 2030 and using carbon-free sources of energy. Trillium, however, said that emissions actually rose by 51% and left investors "inthe dark" as to how the company planned to achieve its goals. Trillium's similar resolution?last year was supported by nearly a quarter (25%) of independent shareholders. Giovanna Eichner, Green Century Capital Management's shareholder advocate, declined to provide more information. She said that the company was in talks with Nvidia regarding a proposed resolution, "to ensure?that short-term AI benefits do not come at a cost of climate and financial risks over time." Shareholders are asking for more information on water consumption. According to market research firm Mordor Intelligence's data, North American data centres?used almost 1 trillion liters (roughly equivalent to New York City's annual water demands) in 2025. The data on water usage varies. While Meta, Google and Microsoft have all begun using closed-loop refrigeration in their data centres, which uses much less, there are differences between the data. Meta's environmental report for 2025 showed the water consumption for its own sites, but not those it leased or was under construction. The total usage increased 51%, from 3,726 Megaliters in 2020, to 5,637 Megaliters by 2024. This is enough water to provide more than 13,000 households for an entire year. Google's environmental report for 2025 only included data on the sites that it owned and leased, not those operated by others. Amazon and Microsoft reported the total water consumption, but did not break it down by location in their sustainability reports for 2025. Josh Weissman said that Amazon "increasingly discloses site-specific data on water consumption where we operate." Amazon's spokesperson said that the company is "committed" to being a good neighbor and has invested in efficiency measures, bringing on new energy and reducing water consumption. Investors said that site-level data is important because it helps them to assess operational risks, and how the company manages them. They also want to know more about the efforts to replenish water supplies. LOCAL DATA IS REQUESTED Jason Qi is a lead technology analyst at Calvert Research and Management. Microsoft's spokesperson stated that environmental sustainability is "a core value". It also said it "proactively addresses sustainability challenges and accelerates solutions for long-term impacts." Google's spokesperson declined to make any comments, and Meta didn't respond to a comment request. Dan Diorio is vice-president at?the Data Center Coalition. The lobby group includes the Big Four tech companies. He said that improving community engagement has become a priority in the past year. It is important to be upfront about energy and water usage, so residents understand that the project won't strain their resources and protects them as ratepayers. Reporting by Simon Jessop, Valerie Volcovici, and Supantha Mukerjee, in Stockholm. Dawn Kopecki and Chizu Nomiyama edited the story.
New-look Polymetal aims to double gold output with Central Asia M&A
Gold producer Polymetal International prepares to double output by 2029 through acquisitions in Central Asia and will halt dividends while pursuing that goal, it stated on Tuesday in a strategy shift because the sale of its Russian properties.
Polymetal's Russian company came under U.S. sanctions in 2023 after Moscow sent troops into Ukraine in February 2022. The group offered its Russian assets, which represented about 70% of output and more than 50% of core earnings, for about $3.7. billion this year.
We will need a hell of a great deal of capital to achieve our. vision, and at the exact same time we will need to retire a. substantial quantity of debt which is presently sitting on our. balance sheet, CEO Vitaly Nesis stated.
The company may also seek to get in brand-new markets in Saudi. Arabia and Oman. CFO Maxim Nazimok informed there were 2. or three M&A handle the pipeline in Kazakhstan and. neighbouring jurisdictions.
Seeking to distance itself from its Russian ties, Polymetal. International revealed last month it was rebranding to. Solidcore Resources, having actually experienced know-your-client concerns. with banks, information service providers and suppliers regardless of not being. based on sanctions.
Polymetal said its goal to produce 1 million ounces of gold. comparable by 2029 would require considerable additional. financial investment in expedition, M&A and advancement of new possessions.
It prepares to invest $800 million into its Ertis POX project. in Kazakhstan, with production set to begin in the very first half of. 2028. Only then will the company be able to resume dividend. payments.
Nesis said constructing the POX task was the only method to put. the business on a strong footing and completely sever ties with Russia. The company has U.S. approval to preserve a tolling arrangement. with a POX facility in Russia.
We will need to go through the discomfort of not paying a. dividend, to reestablish the business into a state that makes it. a bona-fide, investable mining company, Nesis stated. I think. there is no other method.
General capital investment of $1.23 billion is planned from. 2025-29, leaving out M&A, the business stated. Constant annual. production levels are predicted for that period at existing. jobs, ranging from 468,000 to 520,000 ounces of gold. equivalent.
LISTING QUANDARIES
Presently 11% of the group's exceptional share capital. remains obstructed within Russia's National Settlement Depository. ( NSD), which is under sanctions, and with other Russian. custodians.
Nazimok required investors to wake up to the problem. and begin taking part in an offer to exchange obstructed. Moscow-listed shares for those in Astana, in spite of low liquidity. in Kazakhstan.
The group is thinking about how to ultimately eliminate. the NSD as an issue, Nazimok stated. The resumption of. dividends, to a specific level, is also dependent on dealing with. that problem.
Nesis said the business was not yet ready to pursue a. relisting in London, either in terms of financier appeal or. potential compliance issues.
The reasonable timeline is most likely 2026 at the earliest,. when we will have the ability to show that development at the POX. project is sufficient to satisfy our goal of all independence from. Russia by 2028..
(source: Reuters)