US Ramps Up Economic Pressure on Iran as Gold Prices Rise

The US has signalled plans to intensify economic pressure on Iran, including maintaining a naval blockade and imposing sweeping new sanctions.

Treasury Secretary Scott Bessent hinted at significant escalation measures against Tehran, stating that the US would introduce 'measures that have never been seen on Iran', combining broader economic isolation with the continued naval blockade of Iranian ports.

The comments from Bessent followed remarks by Defense Secretary Pete Hegseth, who said the US military could maintain its naval blockade of Iran indefinitely by rotating naval assets as needed.

In related news, gold prices rose on Friday and remained on track for a weekly gain after softer US inflation data strengthened expectations that the Federal Reserve will keep interest rates unchanged next month.