US-Iran Conflict Escalates as Sanctions Bite Gold Prices

The US-Iran conflict has reached its 175th day, with Iranian parliament speaker Mohammed Baqer Qalibaf saying Iran must plan to overcome 'unjust sanctions'.

US Treasury Secretary Scott Bessent announced the toughest sanctions ever imposed on Iran, which will be detailed on Monday.

The sanctions are intended to force Iran to agree an end to the conflict that has stranded millions of barrels of Middle Eastern oil.

Oil prices steadied on Friday but were on track for a second weekly rise due to concern over Gulf energy exports.

The Iranian parliament speaker accused the US and Israel of waging economic and 'cognitive' warfare, saying they come to plunder Muslim countries' resources.