Falling gold prices revive physical demand in key markets
Consumers in price sensitive regions such as India had been finding it difficult to cope with gold's rally in recent months.
In a bid to appease his foreign and domestic critics, US Secretary of State John Kerry promised not to let a deal with Iran become a time-buying cover for Iran’s nuclear ambitions.
“We will not allow this agreement, should it be reached … to buy time or to allow for the acceptance of an agreement that does not properly address our core, fundamental concerns,” said Kerry on Wednesday in Geneva.
The diplomatic talks are part of an ongoing effort by Western powers to limit Iran’s domestic uranium enrichment capabilities. In return for Iranian cooperation, the West would relax the heavy economic sanctions that have crippled Iran’s economy in recent years.
Kerry said that the negotiations, which may be nearing conclusion, are the “best chance in a decade … to halt progress and roll back Iran’s program.”
US ‘allies’ Saudi Arabia and Israeli, however, remain sharply opposed to the current deal, claiming that Iranian domestic uranium enrichment must be terminated, not only limited.
Israeli Prime Minister Benjamin Netanyahu has said that his country will consider a preemptive strike on Iranian nuclear facilities if diplomacy fails to prevent Iran from developing nukes.
A number of US lawmakers also fear that the diplomatic solution currently on offer would return Iran’s economy to health without sufficiently limiting Iran’s enrichment capability.
3 Comments
Gary
Neville Chamberlain came back after a visit to Nazi Germany in 1938 waving a piece of paper and saying “peace in our time”
Brown
Iran has always claimed they want their nuclear program for peaceful purposes like nuclear generated energy. If that’s truly the case why doesn’t the west simply sell them nuclear reactors for energy?
Dick
Kerry has been pulling “fast ones” on the American people for a long time now and this is probably another “fast one”. 😉