US Targets Iran's Financial Interests in Economic Pressure Campaign

The US Treasury Secretary Scott Bessent announced an economic pressure campaign against Iran on Tuesday, marking the 179th day of the US-Iran conflict. The campaign, dubbed 'Operation Economic Outcast', aims to target Tehran's financial interests globally and sever every economic lifeline that sustains the regime.

Bessent said countries around the world must choose between the US and Iran, stressing that the new campaign exposes Tehran's trade partners to secondary penalties. He emphasized that 'no one is above the reach of US sanctions' and warned that those who facilitate transactions with Iran will be targeted.

The Treasury also imposed fresh sanctions on 60 entities, vessels, and individuals across the world, including in the United Arab Emirates, Hong Kong, China, Singapore, and Switzerland. These entities are accused of enabling the 'Iranian regime's recklessness'.

Meanwhile, gold futures are trading at $4,695, signaling extensive bearish pressure after testing a double top yesterday. The key support level to watch is $4,649.89, which if broken could accelerate the selling spree during this week and lead to further downside in gold prices.