Iran’s rial hit a record low against the US dollar ahead of new US sanctions targeting digital assets, technology, gold, aviation and shipping. Tehran rejected Washington’s demands, defended its sovereignty and dismissed claims that the Strait of Hormuz remained fully open
Iranian Foreign Minister Abbas Araghchi rejected US economic threats, warning that sanctions and isolation would increase hostility among Iranians and fail to achieve their goals. His remarks followed President Donald Trump’s threat of unprecedented economic measures and Treasury Secretary Scott Bessent’s warning of secondary sanctions
Gold and silver prices fell sharply on MCX Friday amid heightened geopolitical uncertainty following US warnings of economic measures against Iran. Gold futures declined 0.8 per cent, while silver dropped 1.27 per cent, with technical indicators pointing to continued near-term pressure
US Treasury Secretary Scott Bessent defended President Donald Trump’s economic agenda before Congress, highlighting tax cuts, wage growth and job creation. Democrats challenged the administration over inflation, tariffs and rising household costs, exposing deep partisan divisions over the US economy
Global oil prices eased slightly after the US allowed a 30-day waiver for countries to buy Russian oil already in transit. Brent and WTI declined marginally, while India assured adequate crude supplies through diversified sourcing and reduced dependence on the Strait of Hormuz route
“We've had many countries come forward and present some very good proposals, and we're evaluating those.” “I would guess that India would be one of the first trade deals we would sign. So watch this space,” Bessent said
