CL
Crude oil prices surged more than 5% on the penultimate day of trading this week, as negotiations concerning Iran's nuclear program dragged into the last-minute on Wednesday evening in Switzerland. While Iran and its negotiating partners indicated that progress had been achieved on most aspects of the complex agreement, there were still key issues that needed to be resolved on Wednesday during high-level talks in Lausanne. A central issue of contention appears to be whether rigid economic sanctions against Iran will be lifted in the next three months before an official agreement could be ratified.
GOLD
Gold futures soared on Wednesday over $1,200 an ounce after the release of soft non-farming payroll figures, stoking fears of a bleaker than expected jobs outlook when the U.S. monthly employment report is released later this week. Last month, the U.S. Private Sector added 189,000 jobs for the month of March far below economists' forecasts of the addition of 225,000, according to ADP. The subdued private sector job growth marked the lowest increase in seasonally-adjusted private employment nationwide since January, 2014.
