Redwood currently recycles lithium, cobalt, copper and aluminum from several sources, including the Nevada battery plant jointly owned and operated by Panasonic and Tesla.

The duties being suspended were put into place by former President Donald Trump, who in 2018 imposed a 25% tariff on all steel imports.

Coming off a run of three straight weekly losses, gold prices declined another 1%.

The dollar index slipped after hitting a 20-year high, making gold less expensive for overseas buyers.

The Fed on Wednesday raised its benchmark overnight interest rate by half a percentage point, the biggest jump in 22 years.