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On May 23, Iranian Foreign Ministry spokesman Baghae stated that the core purpose of Pakistani Army Chief of Staff Munirs visit to Iran was to convey and exchange specific information between Iran and the United States. He said, "At this stage, all our core focus is on ending this war of imposition." Baghae indicated that the two sides have held several rounds of intensive exchanges of views on different clauses in the proposal. They have also conducted in-depth discussions on issues where they have serious disagreements. Given the consistently contradictory stance of the United States, Iran cannot currently assert that this negotiation process will undergo a fundamental change. He said, "Our views have indeed converged somewhat, but this does not mean an agreement has been reached; it merely allows us to explore a possible solution."On May 23, an Iranian Foreign Ministry spokesperson stated that the current mediation process with the United States is "time-consuming and laborious" because the USs hostility dates back decades. "We discussed some key points and wording where disagreements remain, and made suggestions, some of which are still under review, with all parties expressing their opinions," the Islamic Republic News Agency quoted Bagae as saying. Bagae also thanked Pakistan for its mediation efforts.Iranian Foreign Ministry Spokesperson: We are currently focused on finalizing the memorandum of understanding with the United States. Over the past week, the two sides have been getting closer, and we must wait and see what happens in the next three or four days.Naftogaz, Ukraines state-owned gas company, reported that Russia attacked the Naftogaz oil and gas facilities in the Kharkiv and Poltava regions.Iranian Foreign Ministry Spokesperson: The trend this week is toward reducing differences, but we need to observe the situation over the next few days.

Gold Prices Increase in Response to Inflation Fears And Ukraine Concerns

Charlie Brooks

Apr 08, 2022 09:26

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By 2:13 p.m. ET, spot gold XAU= was up 0.5 percent to $1,934.69 per ounce (1812 GMT). Gold futures in the United States increased by 0.8 percent to $1,937.80.


"Once inflation resumes, which I believe it will, it will work in favor of gold, even in the face of the Fed's aggressive monetary policy," Jim Wycoff, senior analyst at Kitco Metals, said.


The Fed's March meeting minutes revealed growing anxiety among officials that inflation had spread across the economy, with "many" members preparing to hike interest rates in large 50-basis-point increments in the coming sessions. 


Rising interest rates in the United States raise the potential cost of bullion holdings while strengthening the currency.


The dollar index =USD eased off a near two-year high reached earlier in the day, while benchmark US 10-year Treasury rates likewise remained around a multi-year high reached on Wednesday. 


Ukraine has increased its requests for crushing financial penalties to compel Moscow to terminate the conflict, while NATO nations have decided to bolster their support for Kyiv. 


Wall Street's major indexes sank for the third consecutive day, as growth stocks extended losses on worries about a more hawkish Federal Reserve and the Ukraine crisis.


Palladium XPD= increased by up to 3.7 percent to about $2,278 per ounce.


"Palladium has historically been quite volatile. Today's focus is on recouping some of yesterday's losses, "Miguel Perez-Santalla, Heraeus Metals Management's head of trading, sales, and marketing in New York, concurred. (Entire Story)


Russia produces between 25% and 30% of the world's palladium, a metal used by manufacturers to decrease pollution from engine exhausts.


Silver XAG= increased 0.6 percent to $24.58 per ounce, while platinum XPT= increased 0.9 percent to $961.53.

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