Gold swings as traders await Fed’s decision on interest rates
Gold is up by more than 25% this year, with rate-cut optimism fueling recent gains.
Fertilizer maker Mosaic Co said on Monday that its Florida facilities are expected to return to full production capacity over the coming days after being idled due to Hurricane Milton.
Milton, which led to at least 17 reported deaths, added to piles of debris following Hurricane Helene.
Mosaic said it will provide an update on production losses from Milton and Helene as recovery efforts progress. Early assessments show limited damage to its facilities and products in warehouses, according to a company statement. It added that power has been restored to all facilities.
Mosaic said on Friday that water supporting its storage of a waste byproduct from fertilizer manufacturing at a facility in Riverview, Florida, probably made its way into Tampa Bay following a downpour from Milton. The industrial byproduct, phosphogypsum, is known to emit radon, a cancer-causing radioactive gas.
The company said on Monday that “no significant environmental impacts occurred” due to the recent storms.
(By Tom Polansek; Editing by Mark Porter)
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