US Treasury Secretary Scott Bessent indicated a potential pathway to remove tariffs imposed on India for purchasing Russian oil, citing a significant decrease in such purchases. He also criticized Europe's approach and accused India of profiting from discounted Russian oil.
Iranian state media reports that Ayatollah Ali Khamenei's son, Mojtaba Ali Khamenei, has been appointed as Iran's new Supreme Leader by the Assembly of Experts, a move criticised by US President Donald Trump.
Foreign investors pulled out Rs 21,000 crore (around $2.3 billion) from Indian equities over the last four trading sessions amid deteriorating global risk sentiment triggered by the West Asia crisis.
The Kremlin has announced it will not disclose data on crude oil exports to India, citing concerns about 'ill-wishers'. This decision follows reports of increased Russian oil supplies to India and China amid geopolitical tensions.
Amid rising tensions, Israel's Defence Minister has issued a stark warning that any leader succeeding Iran's Supreme Leader Ali Khamenei will be considered a target, as reports suggest his son Mojtaba may be next in line.
Trump administration will use "alternative legal authorities" to enforce tariffs on the countries, assuring that the tariff revenue will remain unchanged.
The US has granted India permission to buy Russian oil already in transit to ease global supply pressures amidst the West Asia conflict. This decision comes after India agreed to halt sanctioned Russian oil purchases and substitute them with US oil.
When asked about Bessent's announcement allowing certain Russian oil sales to India and whether the US is considering any other moves, including tapping the Strategic Petroleum Reserve (SPR), Trump said, "If there were some, I would do it just to take a little of the pressure off."
Gold prices are expected to remain volatile next week as investors track geopolitical developments in the Middle East and key macroeconomic data releases that could shape the sentiment in the domestic market, analysts said.
The Congress has strongly criticised the US government's temporary waiver allowing India to purchase Russian oil, raising concerns about continued 'American blackmail' and its impact on India's energy policy.
Indian refiners are negotiating for additional crude cargoes from the US, Russia, and West Africa to ensure adequate supplies amid Middle East tensions. Refineries are maintaining normal processing rates and deferring maintenance to build reserves. The move comes as conflict impacts tanker movements through the Strait of Hormuz, a key energy transit route.
US Treasury Secretary Scott Bessent's remarks come ahead of a high-level summit where India and the European Union are expected to formally announce the conclusion of negotiations on a comprehensive free trade agreement.
In the wake of the FTA between India and the European Union, the United States has described the Europeans as 'very disappointing', saying they were unwilling to join Washington, DC in putting tariffs on New Delhi for its purchases of Russian oil because of this trade deal.
Texas Governor Greg Abbott has directed state agencies and public universities to suspend new H-1B visa petitions through May 2027, a move likely to affect Indian professionals. The order comes amid ongoing debate over skilled immigration and potential impacts on academic research and innovation.
Gold has emerged as the most stable asset during episodes of geopolitical stress, and crude oil has been more sensitive than others when it comes to regional conflicts and sanctions, according to a report in the Reserve Bank of India's (RBI's) monthly bulletin. Silver and the United States Treasury have showed moderate reactions.
I am inclined to believe that the Venezuela adventure is not an indication of American strength, alas, but rather of American weakness, points out Rajeev Srinivasan.
China has made serious inroads into Latin America, which the US may now be hinting is simply not ok: Stay in your lane, Xi! In simple terms, China will no longer have access to Venezuelan oil, points out Rajeev Srinivasan.
Gold and silver prices are poised to maintain their record-setting rally in the coming week as investors focus on global inflation data and key macroeconomic indicators that shape central bank policy paths, analysts said.
'We expect modest returns in 2026 versus the steep gains seen over the past few years.'
Glimpses of US President Donald Trump's arrival in Tokyo, Japan, for the second stop on his Asia tour, October 27, 2025.
Bajaj Finance, Bharat Electronics, Tata Steel, Tata Consultancy Services, NTPC, Trent, Asian Paints and Axis Bank were the major laggards among Sensex stocks. However, Tech Mahindra, ICICI Bank, Power Grid, Hindustan Unilever and Reliance Industries were among the gainers.
The US Department of the Treasury on Wednesday imposed sanctions on Russia's two largest oil companies, Rosneft and Lukoil, in an effort to pressure the Kremlin to end its war in Ukraine.
As in-person negotiations between India and the US kickstarted on Wednesday, Treasury Secretary Scott Bessent said he expected India to strike the first bilateral trade deal to avert President Donald Trump's reciprocal tariffs.
Sanctioning Russian oil would have led to a sharp surge in oil prices to above $80 per barrel levels, which would impact pump prices in the US ahead of midterm elections next year.
A combination of factors, including heavy investments in US Treasury bonds and dollar sales at a healthy profit, facilitated the Indian central bank in transferring a record surplus of Rs 2.11 trillion to the government for 2023-24 (FY24). The RBI's dollar purchases increased in FY24, supported by robust capital inflows endorsing the economy's health.
New investors should not allow themselves to fall prey to FOMO and rush headlong into gold.
Whether Trump will actually press ahead with the oil sanctions remains unclear, since keeping Russian oil out of the world market risks high oil prices which could boomerang on the US economy and be damaging politically for Trump, points out Ambassador M K Bhadrakumar.
Yes, the entry of private bankers, particularly with global experience will add value to PSBs, points out Tamal Bandyopadhyay.
Trump's post on Truth Social comes a day after the US asked G7 countries to impose tariffs on countries purchasing oil from Russia.
As the rally in precious metals takes centre stage in 2025, most analysts recommend a larger allocation to gold over silver despite the latter's outperformance this year. In the current calendar year (CY25), spot gold prices in dollar terms rallied
Describing the India-United States relationship as 'very complicated', US Treasury Secretary Scott Bessent on Wednesday hoped that 'at the end of the day, we will come together.'
Gold and silver prices are expected to maintain their upward trajectory this week, but may see late profit-booking amid the release of a series of crucial global economic indicators, analysts said. On the economic front, traders will closely monitor the manufacturing/ services PMI data from across regions and the US non-farm payrolls/ employment data along with consumer confidence for the month of September and speeches from several Federal Reserve officials, they added.
Gold prices on Tuesday surged Rs 723 to touch an all-time high of Rs 110,312 per 10 grams in the domestic futures market, tracking strong global cues amid growing expectations of a US Federal Reserve interest rate cut next week. Traders said weak US labour market data has strengthened the case for monetary policy easing, putting pressure on the dollar and boosting demand for the safe-haven asset.
The Trump administration has launched a premium immigration programme targeting wealthy individuals worldwide, offering permanent residency in the United States through expensive 'Gold Cards' that could generate billions in revenue for the American Treasury.
Sullivan remarks come amid the rising friction between Washington and New Delhi due to the 50 percent tariffs imposed on Indian goods, which include a 25 percent penalty for buying Russian oil.
The statement did not name any country. But the US has often blamed India and China for purchasing Russian oil even when there are no tariffs on Beijing for it.
Foreign investors have pulled out nearly Rs 18,000 crore from Indian equities so far this month, weighed down by escalating US-India trade tensions, disappointing first-quarter corporate earnings, and a weakening Indian rupee. With this, the total outflow by Foreign Portfolio Investors (FPIs) in equities has reached Rs 1.13 lakh crore so far in 2025, according to data from the depositories.
White House press secretary Karoline Leavitt on Tuesday once again claimed that United States President Donald Trump has ended the military conflict between India and Pakistan.
United States Treasury Secretary Scott Bessent has warned that the secondary tariffs on India could go up if 'things don't go well' during talks between President Donald Trump and Russian President Vladimir Putin in Alaska on Friday.
There were apprehensions that additional secondary tariffs would have hit India in case the US decided to enforce them.
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