Gold Prices Drop Rs 600 After Four-Day Rally, Silver Edges Higher Gold prices declined by Rs 600 to Rs 1,66,500 per 10 grams in Delhi on Wednesday, snapping a four-day upward trend amid profit-taking and a strengthening US dollar. The yellow metal of 99.9 per cent purity had closed at Rs 1,67,100 per 10 grams in the previous session. Silver prices rebounded modestly, rising Rs 500 to Rs 2,50,500 per kilogram (inclusive of all taxes) from Tuesday’s closing level of Rs 2.5 lakh per kg, according to the All India Sarafa Association. The decline in gold prices was attributed to traders booking profits after a sustained rally, with analysts noting that the metal’s recent gains were partly fueled by the US Treasury’s debt-buyback program, lower bond yields, and steady purchases from China’s central bank. Akshat Siddhant, Lead Quant Analyst at Mudrex, highlighted that the decline reflected a shift in investor sentiment as the US dollar strengthened ahead of the release of the US Personal Consumption Expenditures (PCE) inflation report. He emphasized that gold’s performance had been supported by a combination of monetary policy measures and geopolitical tensions, which had kept demand for safe-haven assets elevated. In global markets, spot gold prices fell by nearly 1% to USD 4,619.21 per ounce, consolidating after five consecutive days of gains. Praveen Singh, Head of Commodities at Mirae Asset ShareKhan, noted that the decline was part of a broader correction as investors reassessed risk appetite. Meanwhile, silver prices dipped slightly to USD 68.50 per ounce, though the metal remained resilient amid continued industrial demand. The decline in gold prices coincided with broader market trends, including a drop in crude oil prices due to concerns over supply stability.#us_treasury #mirae_asset_sharekhan #hdfc_securities #all_india_sarafa_association #mudrex
How US sanctions on Iran ripple through global markets and consumers The United States has intensified economic pressure on Iran with a new wave of sanctions, framing the measures as an “economic D-Day” as tensions escalate. US Treasury Secretary Scott Bessent announced the sanctions on Monday, describing them as a critical step in the administration’s strategy to weaken Tehran’s economy. The measures, which include a naval blockade of Iranian ports, target key sectors of Iran’s economy, such as aviation, digital assets, gold, technology, and shipping, while also sanctioning 60 individuals and vessels. The goal is to cut off Iran’s access to global markets and force its trading partners to sever economic ties. The sanctions are part of a broader effort to isolate Iran, with Bessent emphasizing that the country now has “much less room” to circumvent restrictions compared to previous years. The Treasury Department alleges that Iran has used cryptocurrency and gold to bypass sanctions, enabling transactions involving the Islamic Revolutionary Guard Corps (IRGC) and other regime-linked entities. Additionally, the measures target Iran’s state-linked shipping fleet, which is accused of transporting oil and “sensitive weapons components.” Technology sanctions aim to restrict Iran’s access to materials that could support its weapons programs, while aviation sanctions focus on airlines allegedly used to transport weapons, military personnel, and financial resources to Iran’s proxies. The sanctions also impose secondary penalties on countries and entities that continue to engage in trade with Iran. Targets include ships registered in Singapore, China, and Hong Kong, as well as individuals and companies involved in “grey-zone trade.#iran #scott_bessent #us_treasury #islamic_revolutionary_guard_cors #center_for_a_new_american_security
UAE Severs Iran Economic Lifeline Amid Escalating Regional Tensions The United Arab Emirates has suspended all trade, commercial exchanges, and financial transactions with Iran, marking a significant escalation in the Gulf state’s efforts to isolate the Islamic Republic. The move, announced amid accusations that Tehran had launched ballistic missiles targeting maritime traffic, cuts off one of Iran’s most critical economic lifelines and deepens its isolation amid ongoing tensions with the United States. The UAE’s decision comes as U.S.-Iran diplomacy has collapsed, with both sides locked in a standoff over control of the strategic Strait of Hormuz. The UAE’s actions sever a vital commercial and financial link that had long remained resilient despite U.S. sanctions. According to World Trade Organization data, the UAE supplied 31% of Iran’s imports, valued at approximately $21 billion in 2024, and was the destination for 13% of Iran’s exports. This economic relationship, however, has now been effectively terminated, with Emirati officials citing regional instability and threats to maritime security as justification. The UAE Foreign Ministry stated the measures would remain in place “until further notice,” emphasizing the need to safeguard regional peace and security. Miad Maleki, a former U.S. Treasury official and senior fellow at the Foundation for Defense of Democracies, described the UAE’s move as a critical blow to Iran’s economic resilience. He noted that the UAE and China are Iran’s two primary economic lifelines, with Dubai serving as a key conduit for Tehran’s global trade. “Most of what Iran calls ‘imports from the UAE’ was never Emirati. Dubai has been basically Iran’s window to the world economy,” Maleki explained.#iran #strait_of_hormuz #united_arab_emirates #us_treasury #foundation_for_defense_of_democracies
30-Year Treasury Yield Hits 19-Year High as Global and Domestic Factors Drive Surge The yield on the 30-year U.S. Treasury has reached its highest level in nearly two decades, climbing to 5.311% on Monday. This marks the highest level since June 2007, according to the Treasury Department’s report. The surge has raised concerns among market analysts about further increases, despite recent U.S. economic data that typically would have pressured yields downward. Foreign holdings of U.S. Treasurys fell in June, with major holders including the United Kingdom, China, and Japan all reducing their investments. Fundstrat technical strategist Mark Newton noted that long-term yields could rise to 5.60%-5.70%, citing the recent resolution of a three-year "triangle pattern" in market trends. He attributed the surge to Japan’s weaker-than-expected economic growth and a hotter GDP deflator, which pushed Japanese government bond (JGB) yields higher. These changes, he argued, spilled over into U.S. markets, driving the long bond to new multi-year highs. Despite the upward trend, recent U.S. economic data has shown signs of cooling. July retail sales were the weakest since May 2025, and labor-market indicators suggest a slowdown in hiring. However, these data points have not dampened the rise in Treasury yields, as investors remain focused on global risks and the Federal Reserve’s policy trajectory. Global participation in Treasury markets is a key factor driving the surge. BMO strategists highlighted fiscal concerns across the U.S., Japan, the U.K., and Europe as one possible reason for the weakness in long-dated bonds. Even if U.S. economic data softens, a global repricing of long-term borrowing costs could maintain upward pressure on Treasury yields. This dynamic is further amplified by the U.S.#federal_reserve #us_treasury #deutsche_bank #mark_newton #bmo_strategists
Binance Blocks HTX and EXMO. Sixteen Platforms Cut Off Amid Sanctions Push Binance has announced it will block transactions with 11 cryptocurrency platforms starting 23 August, including HTX and EXMO, as part of broader efforts to comply with global sanctions. The move follows earlier actions by the exchange, which had already restricted access to five smaller platforms—Shelbit, Aban Tether Exchange, A7 Nigeria, A7 Africa, and PilotFinance—earlier in August. Binance attributed the decision to "recent regulatory developments" but did not specify which actions triggered the changes. The affected platforms total 16, aligning with the 14 crypto-related entities listed in the EU’s 21st Russia sanctions package, adopted in July, plus Shelbit and Aban Tether, which were added separately by the U.S. Treasury on 7 August. Other exchanges had already begun limiting exposure to HTX before Binance’s announcement. According to Finance Magnates, transfers linked to HTX were being rejected by Bybit and Telegram Wallet prior to the news. HTX, formerly known as Huobi, has contested its designation under UK sanctions, arguing that the designation applies only to a separate legal entity rather than the exchange itself. The UK’s sanctions authority, however, stated that HTX is covered through common ownership with the entity named in the designation. HTX’s daily spot trading volume has dropped sharply, from over $5 billion in late 2025 to $572.8 million as of 14 August, according to CoinGecko. EXMO, on the other hand, has taken a more definitive stance, announcing it will wind down operations entirely rather than contesting the designation. This contrasts with HTX’s approach, highlighting the varying responses from platforms facing sanctions. Binance’s own compliance record remains under scrutiny. In November 2023, the exchange paid approximately $4.#us_treasury #eu #binance #htx #exmo
India Secures 60 Million Barrels Of Russian Oil For April As Hormuz Disruptions Hit Gulf Supplies: Report Indian refiners have agreed to purchase around 60 million barrels of Russian crude oil for delivery in April, reflecting a sharp rise in imports as the nation grapples with supply disruptions caused by escalating tensions in the Middle East. The contracted volumes represent a doubling of February’s imports and align with March’s purchase levels, underscoring India’s efforts to secure energy supplies amid growing uncertainties. The increased procurement of Russian oil follows a temporary policy shift by the U.S. Treasury Department, which initially permitted Indian refiners to take delivery of Russian crude already loaded on ships before March 5. This deadline was later extended to March 12, allowing Indian buyers to capitalize on the opportunity. The decision came amid disruptions to oil shipments from Saudi Arabia and Iraq, as Iran intensified attacks on vessels in the Strait of Hormuz, a critical chokepoint for global oil trade. Indian companies reportedly paid premiums of between five and 15 dollars per barrel for Russian crude, a stark contrast to the heavy discounts typically seen in Asian markets. This surge in prices reflects the urgency of securing supplies amid the crisis. Refiners scrambled to lock in Russian barrels, paying premiums of two to eight dollars above the Brent crude benchmark to ensure uninterrupted supply chains. Beyond Russian oil, India has expanded its energy diversification strategy. Purchases from Venezuela are expected to reach eight million barrels in April, the highest volume since October 2020. The conflict has severely impacted India’s access to oil via the Strait of Hormuz, through which the country usually receives 40 to 50 percent of its imports.#iran #india #strait_of_hormuz #us_treasury #russian_oil
Trump's 250th Anniversary Coins: 5 Changes to U.S. Currency President Trump is nearing the release of an official coin bearing his likeness, but his influence on U.S. currency extends beyond that single design. Over the past year, the Trump administration has implemented several changes to American coins, many tied to the nation’s 250th anniversary. These adjustments have sparked debate, legal scrutiny, and questions about the boundaries of presidential authority over the U.S. Mint. The most visible change is the approval of a 24-carat gold commemorative coin celebrating the 250th anniversary of American independence. The Commission of Fine Arts, a group entirely composed of Trump appointees, endorsed the design, which features the president in the Oval Office. One side of the coin displays the year 1776, while the other shows 2026. This marks the first time a sitting president’s image appears on a coin during their term, a rarity in U.S. history. Only Calvin Coolidge had a coin minted during his presidency in 1926. Legal experts warn that the gold coin could face challenges. Federal law prohibits the use of living presidents’ portraits on circulating coins, though commemorative coins are an exception. The Circulating Collectible Coin Redesign Act of 2020 and 31 U.S. Code § 5112 restrict the depiction of living individuals on coins, with limited exceptions for collectibles. The Presidential $1 Coin Act of 2005 further limits $1 coins to honoring deceased presidents. Despite these rules, the Trump administration has pushed forward with its designs. Another controversial change involves the $1 coin. In October 2025, the U.S. Treasury released a draft design featuring Trump raising his fist in front of a U.S. flag. The front of the coin shows a traditional portrait of the president.#us_treasury #trump_administration #wall_street_journal #commission_of_fine_arts #us_mint
Kamal Haasan Slams Trump Over US 'Permission' to Buy Russian Oil Actor-politician Kamal Haasan has criticized US President Donald Trump on social media, accusing Washington of overstepping by granting India "permission" to purchase Russian oil amid global supply chain disruptions. Haasan, a member of India’s Rajya Sabha and leader of the Makkal Needhi Maiam party, posted a message on X addressing Trump, emphasizing India’s sovereignty and rejecting foreign interference. "Dear Mr. President, We, the people of India, belong to a free and sovereign nation. We no longer take orders from distant foreign shores. Please mind your own business to the best of your abilities," he wrote. Haasan also called for mutual respect between nations, stating, "Mutual respect between sovereign nations is the only foundation of lasting global peace. We wish your country and its people peace and prosperity." The controversy stems from remarks by Scott Bessent, US Treasury Secretary and a close aide to Trump. Bessent told Fox Business that the US had allowed India to buy Russian oil to address temporary supply gaps caused by the Middle East conflict. "The Indians have been very good actors. We had asked them to stop buying sanctioned Russian oil this fall. They did. They were going to substitute it with US oil. But to ease the temporary gap of oil around the world, we have given them permission to accept Russian oil. We may un-sanction other Russian oil," Bessent said. Trump later echoed this sentiment, suggesting the US might take steps to alleviate global oil pressure. "If there were some, I would do it just to take a little of the pressure off," he said, adding that "the oil pressure—there's a lot of oil. We've got a lot of oil. Our country has a tremendous amount and we have, there's a lot of oil out there. That'll get healed very quickly.#india #donald_trump #scott_bessent #kamal_haasan #us_treasury
