The price of gold and silver make a profit after reports that Iran produces its first nuclear fuel rods. Iran’s efforts turned out to encourage investors to buy gold as a safe investment.
Gold for fast delivery, rose 0.2 percent to 1566.27 U.S. dollars per troy ounce (equivalent to 31.1 grams) Meanwhile, silver prices rose 0.1 percent at 27.8625 U.S. dollars per troy ounce.
“Iran’s nuclear plan has raised concerns that the (Iranian) is getting desperate and will take some drastic steps,” said Gnanasekar Thiagarajan, director of Commtrendz Risk Management Services Pvt., In a telephone interview with Bloomberg on Monday.
Because Iran continues its nuclear program, even has a warning through a number of sanctions given by Western countries. Citing the National Atomic Energy Agency, the Iranian Students News Agency on Monday, reports, a locally made fuel rods have been included in the atomic nucleus Tehran research reactor after the test performance.
According to Mehr news agency, Tehran reactor to produce radio-isotopes are useful for the treatment of cancer. Not only that, the nuclear fuel rods also could provide fuel for nuclear power plants. The seriousness of this has been fruitful Iran sanctions issued by the United States and its allies.
Sanctions have been signed into law by President Barack Obama on December 31, 2011 which aims to prevent the central bank’s transactions with Iran. Meanwhile, the European Union is considering a ban on imports of crude oil from oil-exporting country is the world’s third largest. Still, Iran continues its nuclear project.
“More sanctions are expected from the U.S. and other countries. It (the sanctions) will provide a positive impact on gold prices along with people, which ideally, would buy gold,” added Thiagarajan.
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