Iran acquired a right to use nuclear power that pushed commodities down

Long-awaited safe permission of a situation with Iran became one of the main events of last weekend. Only after almost 10 years, on November 24, on the next round of negotiations the compromise was found in Geneva. Six international intermediaries (the Russian Federation, the USA, the People's Republic of China, Great Britain, France and Germany) recognized the right of Iran to use of nuclear power in the peace purposes on condition of control from IAEA. Within the signed arrangement there is the right of Iran to peace atom, including the right to enrichment, at understanding that this program will be put under the strictest control of IAEA. The U.S. President Barack Obama urged the congress of the USA to refrain from introduction of new sanctions against Iran due to achievement of arrangements in Geneva. According to the U.S. President B. Obama, the reached agreement represents the first step in a solution which will create space and time for achievement of further arrangements according to the nuclear program of Iran.

It isn't clear yet as all stock markets will react to this news, but the oil market precisely after such statements will have a correction. This morning Brent is losing 2,63%% traded on a level of 108,13$ and Light is down for 1,39%% at a price of 93,52$ per barrel.

Not less interesting situation continues to develop in the market of precious metals. On the basis of development of deflationary processes in Japan, Europe and the USA - gold and silver already more than a year continue the decrease and it at over soft monetary policy of the central banks and artificially increased liquidity. Fears about fast reduction of the program of monetary easing by FED only strengthen a negative view of precious metals.

From the technical point of view gold already more than a year is in a descending trend and while we cannot see even one sign which will show the turn of the trend. Recently gold has been gone throw the important technical level on a 1250,00$ and now the most expected is level of 1200, 00$ per troy ounce. This levels could be taken into consideration for the opening of the long positions. It is worth to note that cost of gold mining now on the average makes 1100,00-1200,00$, therefore we hardly will see a collapse of quotations lower than 1100,00$.

This morning gold is down for 0,97%% at a price of 1232,10$ per troy ounce. Silver is also under strong pressure, decreasing for 1,13%% and bargaining next to the level of 19,64$ per troy ounce.


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