Producers of metals, grains and other raw materials fell as traders awaited confirmation of a peace deal between the U.S. and Iran.

US stocks reversed intraday losses after reports of US-Iran deal progress sent oil prices tumbling, with Brent crude falling around 5% to $94 per barrel.

Thursday saw a resurgence in gold prices, which jumped more than one percent as they bounced back from a two-month low. This recovery was fueled by the hopeful prospects of an…