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.
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.
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.
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.
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.
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.
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
Trump's post on Truth Social comes a day after the US asked G7 countries to impose tariffs on countries purchasing oil from Russia.
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.
External Affairs Minister S Jaishankar defends India's purchase of Russian oil, stating it is not the largest purchaser and that the US had previously supported such actions to stabilize energy markets. He also addresses concerns about tariffs and trade relations with the US.
The US House Foreign Affairs Committee Democrats stated that imposing tariffs on India will not deter Russian President Vladimir Putin or address Russia's invasion of Ukraine.
The Trump administration has announced a massive increase in H-1B visa fees, imposing a $100,000 annual charge that will fundamentally alter how American companies hire skilled foreign workers, particularly impacting Indian IT professionals who comprise the largest group of beneficiaries.
'Things may get much worse before they get better,' predicts Ajay Chhibber.
Commerce and Industry Minister Piyush Goyal on Tuesday expressed hope that India will conclude the proposed bilateral trade agreement (BTA) with the US by the fall or November this year. He said that "a little bit" of geopolitical issues overtook the trade matters in the negotiations for the pact between the two countries.
'Trump does have a master plan in mind to put pressure on India with the additional tariff of 25 per cent to get Modi to persuade Russian President Vladimir Putin to freeze the Ukraine war.' 'It has not worked so far. By end-September only we'll know for sure the future trajectory of India's oil purchases from Russia,' observes Ambassador M K Bhadrakumar.
Who else will take on the might of Microsoft, Google, and Amazon if not the Adanis, Ambanis, Birlas, or Tatas?, asks R Jagannathan.
Russia has a "special mechanism" to confront any challenge arising out of the US slapping punitive measures against India for its procurement of Russian crude oil, Russian charge d'affaires Roman Babushkin said on Wednesday.
Communication channels between India and the US are open to resolve the ongoing tariff issues, and the glitch in trade ties is only temporary, given the long-term relationship between the two nations, government sources said on Wednesday. The US' 50 per cent tariffs on Indian exports to America came into effect from August 27, barring a few sectors.
The United States has imposed sanctions on at least half a dozen Indian companies accused of trading in Iranian petroleum and petrochemicals as part of broader action targeting 20 entities worldwide.
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