The United States has just agreed to ease the economic sanctions on Iran in exchange for that country halting its nuclear program, and gold investing prices have fallen substantially as a result. Russia helped to broker this deal between Washington and Tehran, and this should be a major warning sign to anyone who believes that this deal means, well, anything.
Russia and Iran have taken each other’s side on numerous occasions, with the United States being on the opposite side of the debate on many of those occasions. Iran has stated that it only wants to hone its nuclear capabilities in order to supply its citizens with energy and to develop its space program. Opponents of lightening the sanctions say that Iran is very close to producing weapons-grade uranium and that allowing the nation to sell its oil on the open market could be a two-edged sword against the United States.
“Removing sanctions will allow Iran to sell oil to the world, providing a bankroll for nuclear weapons development as well as taking money away from the United States and its oil-producing allies,” said Christian Bond, analyst for Certified Gold Exchange. “Some people believe that Iran is playing the United States against itself, and even in the short-term we see that the result is instantly-lower oil prices.”
Gold and other commodities fell in response to the deal, while U.S. stocks skyrocketed. “Some investors see this as progress with a nation that can sometimes be hostile towards the United States, but even though the global community is letting out a sigh of relief a lot of Americans are even more on edge after learning the details of this deal,” Bond added.
We don’t know what Iran’s true intentions are any more than we know the true intentions of our own government, but it might be a good idea to keep an eye on the Middle Eastern nation’s dealings with the United States now that Iran is directly affecting gold prices here at home.
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