Oil And Gold Analysis: Crude Plunges, Gold Futures Edge Lower
ICM Brokers | Apr 01, 2015 06:05AM ET
CL
Crude oil futures plunged by more than 2% in afternoon trading hours, as the White House sent indications that negotiations with Iran on its nuclear program could extend beyond a deadline previously set for late Tuesday evening. While briefing reporters on the negotiations on Tuesday afternoon, White House press secretary Josh Earnest said the United States is not opposed to continue talks with Iran as long as they are productive. The comments came as the sides reportedly moved closer to reaching the framework of a preliminary political accord aimed at limiting Iran's capabilities enough to keep a nuclear bomb out of reach.
GOLD
Gold futures edged lower on Tuesday amid a modest uptick in the U.S. dollar on the final day of trading in March, as the precious metal posted its second consecutive monthly loss. Global investors also awaited a potential deal regarding the destabilization of Iran's nuclear program. Iran and a group of six major world powers reportedly moved closer to a preliminary accord on Tuesday afternoon in Lausanne, Switzerland, but had yet to reach a deal ahead of a midnight deadline. There were indications that the most complex issues would be deferred for a final agreement in three months.
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