Written By hendra wahyono on Senin, 25 November 2013 | 18.05
The most active gold contract for December delivery lost 2.9 dollars , or 0.23 percent , to close at 1241.2 U.S. dollars per ounce .
In the six-month interim agreement reached between Iran and six world powers ( the United States , Britain , France , China , Russia and Germany ) , Iran agreed to suspend uranium enrichment in exchange for a reduction in some of the sanctions .
The initial deal helped ease fears of geopolitical , put gold under pressure on Monday .
The deal unfreeze Iranian assets in cash . Iran estimated the chances of getting exemption of seven billion dollars in the next six months under the interim agreement .
Meanwhile , some sanctions against the gold will be suspended , which would allow Iran to sell its gold reserves .
The dollar also weakened gold rose again . The dollar rose to a six-month high level against the Japanese yen on Monday .
The latest data from the U.S. Commodity Futures Trading Commission showed that hedge funds be " bullish " on gold , and their net long position in gold has dropped to the lowest level in four months .
Meanwhile, silver for March delivery rose 2.5 cents , or 0.13 percent , to close at 19.926 dollars per ounce . Platinum for January delivery lost 4.9 dollars , or 0.35 percent , to close at 1,377,8 dollars per ounce .
While oil prices fell on Monday ( 11/25/2013 ) local time , (Tuesday morning GMT ) , after Iran reached an agreement with world powers over its nuclear program over the weekend . That fueled hopes of increasing the supply of oil in the future .
Light sweet crude for January delivery lost 75 cents to close at 94.09 dollars a barrel on the New York Mercantile Exchange .
Brent crude for January delivery moved down five cents to settle at 111.00 dollars a barrel in London trade .
After intensive negotiations , world powers and Iran have reached an agreement on the first phase of Iran's nuclear program on Sunday ( 24/11/2013 ) .
The power of the world , namely the United States , China , Russia , France and Britain plus Germany , began the latest round of talks with Iran on Wednesday ( 20/11/2013 ) . The agreement was reached after the foreign ministers of these countries perform unscheduled trip to Geneva to push talks to a conclusion .
This is the third round of talks between Iran and six countries in more than a month . In exchange for a temporary halt to Iran's nuclear program , the U.S. will refrain from imposing new sanctions .
The deal Iran push oil prices lower . Traders believe that more oil will Iran back into the international market in the long term , and the possibility of making additional supply of oil is cheaper .
But Iran still has a long way to resume oil exports in full . Investment bank Goldman Sachs predicted in a report on Monday that the volume of Iranian crude oil available for the international market will " etap unchanged for at least the next six months .
Sources : Ant , Xinhua
Label: Business News