Crude Surges, Gold Falls Mildly: July 1st, 2015
ICM Brokers | Jul 01, 2015 01:58AM ET
CL
Crude futures surged on Tuesday, ending a five-session losing streak, as Iran and a group of western powers extended a deadline for a comprehensive nuclear deal beyond the upcoming Fourth of July holiday this weekend. In Vienna, a U.S. State Department spokesperson said negotiations with Iran over its nuclear capabilities have been extended beyond Tuesday's deadline by seven days to July 7th. The delays will provide the two sides with more time for negotiations to reach a long-term solution, State Department spokesperson Marie Harf said.
GOLD
Gold futures fell mildly, extending losses from the previous session amid a stronger dollar, as emergency talks in the Greek debt crisis dragged into the final hours before a second bailout from international creditors expired on Tuesday evening. Greece said it would not make a €1.5 billion payment to the IMF, stemming from a 2010 bailout, before the end of Tuesday's deadline. In other news, the Conference Board’s index of consumer confidence increased to 101.4 in June from 94.6 a month earlier, the New York-based private research group said Tuesday.
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