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US markets are under pressure as fears of a trade war escalate with President Trump's impending tariffs affecting all countries. The Dow Jones and Nasdaq 100 indices have seen significant declines, while gold prices soar amid geopolitical tensions. Vaccine stocks also suffered, with Moderna and Biontech experiencing sharp losses.
Gold prices have reached all-time highs, trading above USD 2,870/oz, driven by tariff concerns and strong central bank demand, prompting a forecast increase to USD 3,000/oz over the next year. Geopolitical tensions and a potential resumption of Fed rate cuts are expected to sustain gold's appeal as a safe-haven asset. Central bank purchases remain robust, with 1,045 metric tons bought in 2024, reflecting ongoing diversification and de-dollarization trends.
BRICS nations, particularly Iran and Russia, are increasingly moving away from the US dollar in trade, driven by economic sanctions and geopolitical shifts. Over 90% of Russia's trade with China and India is now conducted in national currencies, with a currency agreement between Iran and Russia eliminating dollar use. Despite the dollar's dominance, the momentum for de-dollarization among BRICS and its partners suggests a potential shift in global financial power dynamics.
Iran is shifting from restricting to regulating cryptocurrencies to mitigate the economic impacts of U.S. sanctions. The Central Bank of Iran will oversee the new regulatory framework, which includes licensing for crypto brokers and aims to enhance economic benefits while ensuring compliance with anti-money laundering and tax laws. This move aligns with a global trend, as other sanctioned nations like Russia also adopt crypto regulations for international trade.
Trump's incoming administration is marked by hawkish appointments, yet there are signs of a more accommodating approach towards China, influenced by business interests. Despite ambitions to broker peace globally, challenges such as escalating conflicts in Ukraine and Israel's military actions complicate his peacemaking goals. The evolving international landscape may hinder Trump's ability to leverage negotiations effectively, raising questions about his capacity to fulfill his promises of ending wars and making significant deals.
Iran’s rial has plummeted to a record low, trading near 700,000 rials per US dollar, as tensions with Israel escalate. The currency has lost approximately 27% of its value this year, with the decline intensifying since late September amid increased Israeli military actions against Iran-backed Hezbollah in Lebanon.
Iranian Rial
Currency
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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