The nuclear deal took place during the past weekend in Geneva after 6 weeks of long negotiations and talks between the Iranian leaders and leaders of world powers including the United States, France, and England. A consensus was reached among them where it was decided that the stiff sanctions that were imposed on Iran till now would now be relaxed as Iran would in turn limit its nuclear development progress and would stop working on it for now.
The perceived benefits for Iran are numerous in this deal as the country would get to export its automobiles and as well as other manufacturing items to other countries, which in turn would contribute to a great extent towards the economy. Not only this, the Iranian nationals students studying abroad would be compensated for their heavy tuition fees for the total approximate amount of around $400 million that would encourage the students to have quality education and relieve those who can get admissions but cannot pay that much fees. Plus, the relief for the country would also be there when it comes to gold trading so financial and economic benefits are numerous for the country as it would contribute a lot towards creating jobs and increasing purchasing power of the consumers.
Talk about Insecurity
Now that the deal has been done already, some whining is already going on from a few countries including Saudi Arabia and Israel that are not taking this deal as a progress towards creating peace within that region. Israel thinks that it would allow Iran to have more time to build their economic backing and partly preparing for their future nuclear progress, but the ironic fact is that despite all this insecurity Iran is still left untouched and it all seems like a superficial blame game. But who knows.
The impact on the Market
Gold has fallen and is trading at 1223 where bulls are not way near the gold market; whereas, the crude oil dropped down to $93 a barrel as the supply would increase for the oil to other countries and leading the investors to curb their investments in it. On the other hand, the stock indices of top economies are totally in control of Bulls where SP500 index is moving at 1807 level and Nikkei has been rising since past week.
To contact the reporter of this story: Jonathan Millet at firstname.lastname@example.org