Comex Gold saw a cut of 2.3% while Silver prices slipped by 4% yesterday

AHMEDABAD, 18 FEBRUARY: Commodity counters came under selling pressure after reports suggested that Iran and the US have moved closed to agree to a nuclear deal after the second round of talks in Geneva yesterday. Iran’s foreign minister said that they reached an agreement with the US on main principles and the two parties will now work together on potential agreement documents and exchange them. As per reports, Iran has floated new proposals in nuclear talks with the U.S., including pausing uranium enrichment for up to three years, sending part of its highly enriched uranium stockpile abroad possibly to Russia and pursuing future business deals if sanctions are lifted. But Tehran has not agreed to fully halt enrichment, the key demand of President Donald Trump, who has called for dismantling Iran’s nuclear program. Meanwhile, a US official while commenting on the talks with Iran said that progress was made, but there are still a lot of details to discuss.

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Currencies offshore

In terms of market reaction, Comex Gold saw a cut of 2.3% while Silver prices slipped by 4% yesterday. WTI Oil prices slipped to 61.87$/bbl after the talks concluded. Base metal prices also came under selling pressure as LME inventories continue to rise for individual metals. Markets will take cues from US economic data and the Dollar today while comments from US President Trump on the second round of talks will also be crucial.

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(સ્પષ્ટતા: અત્રેથી આપવામાં આવતી તમામ પ્રકારની માહિતી કોઇપણ પ્રકારે રોકાણ/ ટ્રેડીંગ માટેની સલાહ નથી. બજારોમાં રોકાણ જોખમોને આધીન છે અને રોકાણ કરતા પહેલા કૃપા કરીને તમારા સલાહકારની સલાહ લો.)