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The Latest Breaking News from Gulf

Silver prices tank Rs 5,500/kg, gold down Rs 1,800/10 gm as Israel attacks, rising crude trigger panic. Should you sell?

Gold and silver prices opened lower on MCX on Monday. Escalating Gulf tensions pushed oil prices higher, fueling inflation worries. Stronger US economic data reinforced expectations of prolonged high interest rates. MCX silver futures for July 2026 delivery fell 2.23%, while gold futures for August 2026 delivery slipped 1.15%. Investor…

The Economic Times

Gold extends losses on US interest rate-hike fears

Gold prices dipped on Monday, extending previous losses amid U.S. interest rate hike fears. Meanwhile, escalating tensions in the Gulf sent oil prices soaring, fueling inflation concerns. China's central bank continued to increase its gold reserves. Gold demand in India remained subdued due to price volatility. Silver and platinum prices…

The Economic Times

U.S. Reportedly Considering Using Frozen Iranian Assets To Finance Rebuilding In Gulf Allies

The U.S. is reportedly considering using frozen Iranian assets to finance the rebuilding by Gulf allies who sustained damages resulting from the country's strikes.

International Business Times

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Washington could tap into Iran's frozen billions to pay for Gulf attack damage

The Iranian assets Washington is considering reallocating could include frozen funds, along with ships previously seized by the United States.

Euronews

Iran-US war latest: Israel launches retaliatory strikes on Iran’s military targets after missile attack

Explosions were reported in several cities, including Tehran and Isfahan

The Independent UK

US forces shoot down two Iranian attack drones in Strait of Hormuz amid fresh escalation

United States forces have intercepted and destroyed two Iranian drones. These drones posed a threat to commercial shipping in the Strait of Hormuz. This action marks a fresh escalation of hostilities in West Asia. The incident follows Iran's earlier missile and drone attacks on the strategic waterway and its Gulf…

The Economic Times

Iran peace deal at risk? US considers redirecting Iranian assets to Gulf states

The US is exploring redirecting frozen Iranian assets to Gulf states for rebuilding after missile and drone strikes. This move comes as indirect negotiations between the US and Iran remain deadlocked, with Tehran demanding the release of $24 billion in frozen funds. Military tensions continue to escalate across the region…

The Times of India

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Middle East conflict fuels airline bankruptcy risks, more mergers likely: IATA

Soaring jet fuel prices due to Middle East conflict are pushing budget airlines towards bankruptcy and industry consolidation, according to the head of the global airline body. Slow aircraft and engine deliveries are exacerbating these financial strains. Despite challenges, the low-cost model remains viable outside the U.S., and the industry…

The Economic Times

US weighs seizing Iranian assets to rebuild Gulf states hit by Tehran's attacks

The U.S. plans to redirect Iranian assets to Gulf states for rebuilding and repairs following recent Iranian attacks. Treasury Secretary Scott Bessent is assessing damage costs, with frozen assets potentially used for compensation. This comes amid stalled peace negotiations and renewed skirmishes between the U.S. and Iran.

The Economic Times

The Strait of Hormuz is more open than previously thought as the U.S. shoots down Iranian drones threatening ships and provides 'naval overwatch'

"The attack drones posed an immediate threat to regional maritime traffic," U.S. Central Command said.

Fortune

A new exchange of fire with Iran in the Gulf tests the fragile ceasefire

Iran has fired ballistic missiles and drones toward Bahrain and Kuwait, according to Bahrain’s government

The Independent UK

US strikes Iranian sites after Iran launches drones, in latest Gulf flare-up

U.S. forces struck Iranian coastal radar sites after shooting down four Iranian drones targeting maritime traffic near the Strait of Hormuz. Iran retaliated by attacking U.S. bases in Kuwait and Bahrain, leading to condemnations and further complicating indirect negotiations for a ceasefire.

The Economic Times

US, Iran Exchange Fresh Strikes In Gulf As Fragile Ceasefire Faces New Strain

The latest military exchange comes as efforts to secure a broader agreement between Washington and Tehran remain stalled.

International Business Times

US unveils video of retaliatory strikes following interception of six Iranian missiles over Gulf

US forces struck Iranian radar sites in Goruk and Qeshm Island. This followed Iranian drone and missile attacks targeting maritime shipping. Six Iranian ballistic missiles were shot down. The US dismissed Iranian claims of hitting American naval infrastructure. The exchange highlights ongoing tensions in the Strait of Hormuz.

The Economic Times

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France 24

Iran launches ballistic missiles at Bahrain, Kuwait after US hits its radar sites

Iran on Saturday fired ballistic missiles and drones at US allies Bahrain and Kuwait hours after the US conducted strikes on Iranian coastal surveillance radar sites in tit-for-tat attacks that further strained the fragile ceasefire. Bahrain, home to the US Navy's Fifth Fleet, denounced the strikes, while Kuwait said they…

France 24

Israeli strike kills three Lebanese soldiers after ceasefire deal

An Israeli strike on a vehicle in southern Lebanon killed three soldiers, Beirut's military said Saturday, days after the two sides reached a new ceasefire deal during talks in the US. The strike on a vehicle on a road linking Nabatiyeh with Marjayoun killed a brigadier general, a captain and…

The Guardian - UK

Kuwait and Bahrain targeted by Iran after exchange of fire with US

Iran attacks American bases in Gulf states after Washington shoots down drones and strikes Iranian radar sites

International Business Times UK

Major Setback for US: Saudi Arabia and UAE Block American Strikes on Iran

Saudi Arabia and the UAE have blocked US strikes on Iran, forcing a strategic rethink. This decision underscores the diplomatic leverage Gulf states hold over US military planning

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The Economic Times

Yen hits key 160 level for third session, dollar buoyed by Gulf woes

The Japanese yen is nearing a critical 160 per dollar level, prompting warnings of decisive action from Tokyo. Meanwhile, the U.S. dollar is strengthening due to safe-haven demand amid escalating Gulf tensions. Markets await U.S. jobs data, with the yen facing its fourth weekly decline despite signs of rising real…

France 24

Strait of Hormuz oil crisis: An opportunity for Syria?

In the show this week, we look at how Syria could benefit from the oil crisis triggered by tensions in the Strait of Hormuz. After Iran effectively closed the strategic waterway, Syria's Mediterranean port of Baniyas found itself emerging as a hub for crude oil transported overland from the UAE…

The Economic Times

Lebanon ceasefire raises hopes of progress for Iran deal

Israel and Lebanon have agreed to a ceasefire brokered by the United States. This development offers hope for de-escalation in the ongoing conflict with Iran. Recent days saw intense fighting, including strikes on Kuwait and exchanges in the Gulf. Oil prices reacted to the potential for diplomatic progress. President Trump…

The Economic Times

More oil escapes Hormuz, keeping traders guessing

Iran war: Tankers are using stealth to exit the Strait of Hormuz, freeing oil trapped in the Gulf. The practice of ships going dark is widespread. This makes it harder to gauge market flows. Oil on water in the Gulf has dropped. This shows outflows are inching higher. The market…

The Economic Times

Dollar clings to 2-month high as Gulf hostilities flare, yen wobbles near intervention zone

Heightened Middle East tensions, including Iranian attacks and U.S. strikes, propelled oil prices and boosted the dollar's safe-haven appeal near a two-month peak. The yen teetered around the 160 mark, sparking intervention fears. Meanwhile, strong U.S. services inflation data reinforced expectations of sustained high interest rates, while the Bank of…

Fortune

OECD warns of 'scarring effects,' recession scenarios—but finds 'no signs of widespread labour displacement' from AI

The real problem for AI adoption, the global body says: "a lack of workers with digital skills emerging as a barrier to the adoption of AI technologies."

The Independent UK

Cooper defends UK-France’s Strait of Hormuz plan amid Rubio ‘catch-22’ claim

The narrow Gulf channel has become a flashpoint in the conflict, now in its fourth month

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