US President Donald Trump has abruptly withdrawn from a peace deal with Iran, citing fresh intelligence of Iranian assaults on commercial vessels in the Strait of Hormuz. The decision, made just a fortnight after celebrating the deal, has led to a significant military escalation in the region, with the US launching extensive counter-operations against Iranian military infrastructure.
Gold and silver prices are expected to remain range-bound this week as investors await crucial US economic data, including the non-farm payrolls report, and further signals from the Federal Reserve regarding its interest rate policy.
The US has seized an oil tanker, 'Skywave', linked to Iran in the Indian Ocean, as part of efforts to disrupt Iran's oil shipments and enforce sanctions. The vessel was part of a network transporting sanctioned Iranian crude oil, with the seizure occurring amid heightened tensions between Washington and Tehran.
Iran's Islamic Revolutionary Guard Corps (IRGC) has claimed responsibility for missile and drone strikes on US military installations in Bahrain, describing the operations as the second phase of its retaliatory campaign. This announcement follows US Central Command (CENTCOM) confirming its own large-scale offensive targeting Iranian military infrastructure.
Lieutenant General Apti Alaudinov, deputy chief of the Russian Armed Forces' Main Military-Political Department, has warned that the escalating conflict in West Asia could lead to Israel ceasing to exist as a state, accusing Israel of seeking to widen the confrontation to involve the US and NATO.
Outward remittances under the Reserve Bank of India's Liberalised Remittance Scheme (LRS) saw a 7.85 per cent year-on-year contraction in April 2026, primarily driven by reduced international travel spending due to global uncertainty stemming from the US-Iran conflict.
The Ministry of External Affairs (MEA) reports that over 1,150 Indian nationals have been evacuated from Iran through land borders into Armenia and Azerbaijan since the start of the West Asia conflict. The MEA also confirmed that three Indians were injured in attacks in the UAE.
US President Donald Trump has rejected Iran's proposal to end the ongoing war, deeming it 'totally unacceptable'. This decision comes amid efforts to negotiate an end to hostilities that began on February 28 and have disrupted global oil supplies.
The latest development comes as diplomatic efforts between Washington and Tehran continue despite renewed hostilities. CNN reported that US and Iranian officials are still working towards a nuclear agreement by mid-August, even as preparations for possible military action have continued in parallel.
US President Donald Trump has claimed that Iran has accepted "just about everything" the United States has demanded in ongoing indirect nuclear negotiations, particularly regarding denuclearisation. He also asserted that American forces repeatedly carried out military strikes that crippled Tehran's military infrastructure, including radar installations, and escorted commercial oil tankers through the Strait of Hormuz. Trump dismissed reports of Iran's strength, stating its military and economy were severely weakened.
A new report alleges Pakistan shielded Iranian military aircraft from potential US airstrikes, raising questions about its role as a neutral mediator in the ongoing US-Iran tensions.
'Actual implementation of the 14-point agreement is proving hard to achieve let alone striking and sustaining a long-term treaty or deal.'
A new report by Motilal Oswal Financial Services Ltd (MOFSL) indicates that inflation, interest rates, and monetary policy have become more significant drivers of gold prices than traditional geopolitical conflicts, with markets increasingly focusing on these economic factors.
A lesson for India is to clearly define objectives beforehand, so that the adversary or other parties do not attempt to mitigate them midway.
India is significantly expanding its crude oil sourcing to Latin America, with Venezuela emerging as a major supplier, as geopolitical disruptions in the Middle East and the Strait of Hormuz compel the world's third-largest oil consumer to diversify its energy supplies.
US and Iran officials have reportedly agreed to de-escalate tensions and ensure free passage through the Strait of Hormuz, with technical talks scheduled to continue. This development follows months of conflict, rising gas prices, and strained diplomatic relations, marked by recent retaliatory strikes and threats from both sides. Further discussions on Iran's nuclear program are set to take place in Qatar, highlighting ongoing diplomatic efforts despite recent volatility.
Prime Minister Narendra Modi has welcomed the understanding between the United States and Iran to end the conflict in West Asia, expressing hope that the pact will restore peace, stability, and ensure freedom of navigation in the region. The deal, aimed at ending a 107-day war that caused a global energy crisis, is set for signing on June 19.
India is navigating a complex diplomatic landscape, attempting to balance its 'forever honeymoon' with the Israel-UAE-Bahrain axis against its historical ties with Iran, as evidenced by recent high-level visits and evolving geopolitical realignments in the Middle East, observes Ambassador M K Bhadrakumar.
Citing sources familiar with the matter, the report said Trump believes the conflict is in its final stages and has urged aides to adhere to the four-to-six-week timeline he has outlined publicly.
Indian benchmark stock indices, Sensex and Nifty, closed nearly 1 per cent lower following the collapse of US-Iran negotiations, which heightened concerns of a prolonged conflict in West Asia and drove crude oil prices sharply higher.
As Qatari negotiators travel to Iran in an effort to ease tensions and create conditions for the resumption of US-Iran talks following the recent military escalation between them, US President Donald Trump on Friday said that Washington has agreed to continue talks with the Islamic Republic following Tehran's request but reiterated that the US still considers the ceasefire between the two sides to be "over".
The US Central Command announced a new wave of strikes against Iranian military infrastructure, aiming to degrade Tehran's ability to threaten civilian mariners and commercial vessels. This comes as US President Donald Trump described the situation as a 'skirmish' and suggested Iran wants to 'make a deal,' while Iran's Foreign Minister warned of a 'decisive response' to any aggression.
Much will depend on how the protagonists use the current interlude to work proactively for the beginning of a durable settlement or, on the contrary, prepare for a new round of escalation, points out Ambassador M K Bhadrakumar.
The United States and Iran are engaged in indirect talks aimed at developing a framework for a possible agreement, according to Iran's ISNA News Agency. Intensive mediation efforts are underway, but it remains uncertain whether a final agreement is within reach.
The United States on Saturday (local time) launched a third round of strikes against Iran after alleging that Iran's Islamic Revolutionary Guard Corps (IRGC) attacked the Cyprus-flagged container vessel M/V GFS Galaxy in the Strait of Hormuz.
Speaking to North Korea's Supreme People's Assembly on Tuesday, Kim accused the United States of carrying out 'terrorism and invasions' across regions, referring to the ongoing conflict involving Iran.
Pakistan's Foreign Minister Ishaq Dar has been actively involved in mediating between Saudi Arabia and Iran following the outbreak of war, ensuring the safety of Pakistani citizens in affected regions.
US President Donald Trump on Monday claimed that Iran had requested a meeting with the US after the recent military escalation between the two sides over the Strait of Hormuz and announced that talks with Tehran would take place in Doha, Qatar, on Tuesday, despite Iranian officials stating that no technical meetings have been scheduled this week.
US Vice President JD Vance has postponed his visit to Switzerland for technical talks with Iranian negotiators, citing logistical issues. These negotiations are crucial for finalising the details of a recently signed peace deal between the US and Iran, which aims to end the conflict in West Asia and includes a 60-day period for technical discussions.
The United States has launched a fresh wave of precision strikes, hitting approximately 90 Iranian military targets deep inside Iran, further intensifying a rapidly expanding regional conflict, with Tehran warning of severe retaliation.
Head of the Iranian Parliament's National Security Committee Ebrahim Azizi on Saturday said that Iran has prepared a "professional mechanism" to regulate maritime traffic in the Strait of Hormuz through a designated route, which will be unveiled soon.
The urgency for a resolution is underscored by the military situation, as joint operations by Israel and the US have consistently been "targeting Iran's missile systems, launch sites and other critical infrastructure" since the onset of the conflict.
US Vice President J D Vance is currently in Switzerland, leading critical technical talks with Iran to advance diplomatic efforts on Iran's nuclear programme and secure a lasting ceasefire in Lebanon, following a recently signed memorandum of understanding aimed at de-escalating West Asian hostilities.
Pakistan Prime Minister Shehbaz Sharif announced that Pakistan would host the signing ceremony of a peace agreement between the US and Iran in Switzerland on June 19, calling it a "historic milestone" that ends a 107-day conflict and promises global economic stability.
The advisory follows recent developments, including Israeli airstrikes targeting central and western Iran.
India has expressed firm opposition to attacks on merchant shipping amidst the ongoing Iran conflict, revealing that several Indian nationals have died or are missing due to these incidents. The nation also called for restraint, de-escalation, and prioritising civilian safety in the region.
Families in Ambari village are anxiously awaiting news of their relatives stranded in Iran amid escalating conflict, with limited communication and growing concerns for their safety.
Pakistan's Interior Minister Mohsin Naqvi visited Tehran for the third time recently to mediate peace amidst rising tensions between the US and Iran. Pakistan is actively leading diplomatic efforts to de-escalate the conflict in West Asia, which has impacted global energy markets and trade.
With Gulf countries emerging as popular destinations for Indian weddings and pre-wedding shoots, the March-April season had seen a flurry of bookings.
A peace deal between the US and Iran, set to be signed in Geneva, faces significant hurdles over the release of Iran's USD 12 billion in frozen assets, with conflicting reports from both sides on the conditions for their release.
