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April 12 - According to Iranian sources early this morning, the Iran-US negotiations ended minutes earlier, with no agreement reached due to "US greed and ambition."On April 12, Irans Tasnim News Agency reported that some Western media outlets have begun to make "inaccurate descriptions" of the atmosphere surrounding the Iran-US negotiations in Islamabad, as the United States has failed to achieve its objectives in the talks. The report stated that only the Iranian and US negotiating teams and Pakistani officials were present at the Serena Hotel, and no media were allowed entry. Therefore, reports of "fierce clashes in the meeting room" and "handshakes between members of both sides" are purely media hype by the US to cover up its "repeated failures and weak position" in the negotiations. According to previous reports from Iranian media citing informed sources, the Iran-US negotiations in Islamabad have made no substantial progress since they began due to the USs "exorbitant demands." Some Western media outlets are exaggerating the "positive atmosphere" of the negotiations for the purpose of influencing international energy prices. Although there has been some progress in the expert-level talks, the two sides still have serious differences on several issues, including the Strait of Hormuz.U.S. Vice President Vance: We bring a very simple proposal, a way to reach an understanding, which is our final and best solution.U.S. Vice President Vance: We are quite flexible.US Vice President Vance: It needs to be clearly confirmed that Iran will not seek nuclear weapons.

Gold Falls Below $1,800 As Further Fed Concerns Arise

Charlie Brooks

Dec 06, 2022 11:36

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Stronger-than-expected U.S. data boosted the dollar and heightened worry about the U.S. economy and the Fed's response.


The dollar rose for the first time in four sessions on Monday, rebounding from a five-month low. U.S. factory orders and services sector data showed better-than-expected economic performance, which might fuel inflation.


This could require the Fed to hike rates longer than expected, especially if inflation remains high. The Fed has forecast slower rate hikes in the coming months but warned rates may peak higher than expected.


Such a circumstance would hurt most non-yielding assets, especially gold. Next week is the Fed's final 2022 meeting.


Spot gold was near $1,769.30 per ounce, and gold futures were at $1,781.55 per ounce. Monday was the worst day for both instruments in three months, falling 1.7%.


Rising interest rates pushed gold prices lower this year as higher debt yields increased the potential cost of holding gold. Despite rebounding from early-year lows, gold's prospects are limited by the volatility of U.S. interest rates.


After a dramatic drop Monday, other precious metals remained quiet Tuesday. Platinum fell 0.1%, while silver futures stayed at $22.422 per ounce. Monday, both metals fell 2.4% and 4.4%.


Copper prices reversed Monday's early gains as rising interest rates overshadowed optimism about Chinese demand.


Copper futures were steady after sliding 2% the day before.


Despite gold's spectacular comeback in the past two weeks due to rising optimism about China's anti-COVID actions, the recovery looks to have been cut short by concerns that higher interest rates may further hinder economic activity.


China hasn't said it will cut back its entire zero-COVID program; so far, it's simply reduced some steps in its largest cities.


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