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The ongoing conflict in Iran, now in its 18th day, has sparked concerns about the global economy's stability. Typically, during such periods of uncertainty, investors flock to safe-haven assets like gold, causing its price to rise. However, gold prices have remained broadly steady at around $5,000 an ounce.On Tuesday, spot gold was almost flat at $5,001.36 per ounce at 11:00 GMT, and US gold futures for April delivery rose just 0.1 percent to $5,005.20. This lack of movement is surprising, given that gold prices typically shoot up during economic crises as investors look for safe havens to shelter their cash.Experts suggest several reasons for this unexpected stability. Traders may be anticipating that the US Federal Reserve will halt interest rate cuts and perhaps even raise rates in response to rising inflation, making dollar assets more attractive and gold, which pays no interest, less so. Additionally, gold had already risen significantly at the start of the year, which may be contributing to its current stability.Another factor is the strengthened dollar, which provides an alternative safe-haven choice. Higher oil prices, which have soared above $100 per barrel due to the conflict, may also lead to higher inflation, making the dollar more attractive.Experts also note that gold has become a very speculative asset, and typical gold investors, including central banks, tend to be more risk-averse and may have been spooked by the volatility of gold in the current climate.For the price of gold to shift dramatically, two things would need to happen: a clear indication from the Federal Reserve that interest rates may be cut further, despite inflationary pressure, and a change in perception as to the length of the war.

The US government has initiated the deployment of hundreds of Immigration and Customs Enforcement (ICE) agents to airports across the country to address significant staffing shortages and security concerns. This move comes as a result of a prolonged federal funding battle that has led to long delays and congestion at airport security screening stations.According to reports, ICE and Homeland Security Investigations officers are being deployed to more than a dozen airports, including major hubs such as New York’s John F Kennedy International Airport and Hartsfield-Jackson Atlanta International Airport. The deployment aims to support the Transportation Security Administration (TSA) workers, who have been working without pay due to the funding lapse.The funding crisis began on February 14, when some Department of Homeland Security (DHS) funding lapsed due to disagreements over reforms in the wake of President Donald Trump’s immigration policies. This has resulted in TSA agents working without pay and over 300 employees quitting since the shutdown began.While the deployment is intended to alleviate security concerns, it has raised serious concerns among Democrats and some Republicans. They argue that untrained ICE agents could fuel tensions and are not equipped to handle airport security duties. House Democratic leader Hakeem Jeffries and Republican Senator Lisa Murkowski have expressed opposition to the plan, emphasizing the need to resolve DHS funding issues and pay TSA agents.In response to the deployment, President Trump has requested that ICE agents remove their face masks while working at airports, citing concerns about their visibility. However, the move has been met with criticism, with some arguing that it could lead to additional tensions at already strained airport security checkpoints.

US President Donald Trump has ordered a pause in attacks on Iran's power infrastructure for five days. The move comes after Trump issued a 48-hour ultimatum to Iran to reopen the critical shipping route through the Strait of Hormuz or risk US attacks on its power plants.Iran's Response to US Ultimatum: Iran threatened to attack power plants in Israel and the Gulf if its own power plants were targeted. The Islamic Revolutionary Guard Corps (IRGC) stated that it would hit power plants in Israel as well as any supplying electricity to military bases hosting US troops and assets in the region.Potential Targets: Iran could target Israeli power plants, including Orot Rabin north of Tel Aviv, with a capacity of around 3,900 megawatts, and Rutenberg in Ashkelon, with a capacity of around 2,250 megawatts. Iran also mentioned that it would target financial entities that finance US military assets, including US Treasury bonds.Energy Infrastructure: Iran's attacks on energy infrastructure in the Gulf have already had significant impacts. Qatar's state-run energy firm, QatarEnergy, halted LNG production following Iranian attacks on its operational facilities, causing an estimated $20bn in lost annual revenue. Saudi Arabia also shut down operations at the Ras Tanura plant, its biggest domestic oil refinery.Financial and Corporate Entities: Iran could target large US companies with Israeli links, including Google, Microsoft, Palantir, IBM, Nvidia, and Oracle. Iranian officials also mentioned that they would target US Treasury bonds and entities that finance US military assets.Other Critical Infrastructure: Iran's foreign minister accused the US of striking a desalination plant on Qeshm Island off the coast of Iran, cutting off the water supply to 30 villages. Bahrain also reported that an Iranian drone caused material damage to one of its desalination plants.

Israeli military operations have escalated significantly with the destruction of the Qasmiyeh Bridge, a critical infrastructure link connecting southern Lebanon to the rest of the nation. President Joseph Aoun characterized the strike as a “prelude to ground invasion,” suggesting a strategic shift in the ongoing conflict.The assault follows a directive from Israeli Defense Minister Israel Katz to dismantle all crossings over the Litani River and demolish homes in border villages. Analysts note that this strategy mirrors tactics employed in Gaza, aiming to create buffer zones by clearing territory near the border.Aoun argued that the attacks are designed to sever the geographical connection between the southern Litani region and the central government, a move he described as part of a scheme to establish a permanent buffer zone and facilitate Israeli expansion within Lebanese territory.Israeli military leadership has signaled that the operation against Hezbollah is far from over. Lieutenant General Eyal Zamir stated that the campaign would be “prolonged” and that preparations for targeted ground operations are underway.Diplomatic tensions remain high as French Foreign Minister Jean-Noel Barrot expressed reservations to his Israeli counterpart regarding a potential ground operation of significant scale and duration.Humanitarian organizations are sounding alarms over the widening conflict. Ramzi Kaiss of Human Rights Watch warned that wholesale destruction of homes and bridges constitutes wanton destruction, a potential war crime. He emphasized that isolating the southern region would create a humanitarian catastrophe, cutting off access to essential supplies like food and medicine.The conflict has already claimed significant lives, with Lebanon's Health Ministry reporting 1,029 deaths and over one million displaced civilians in just three weeks. On the Israeli side, the first civilian death linked to fire from Lebanon was recorded, alongside the deaths of two Israeli soldiers.

The United Kingdom has strongly condemned 'reckless Iranian threats' after reports emerged of a missile launch targeting a joint US-UK military base on the Indian Ocean island of Diego Garcia. However, Iran's Ministry of Foreign Affairs has denied any involvement in the alleged missile launch.According to US media reports, two ballistic missiles were fired at the base, with one reportedly failing mid-flight and the other intercepted by a US warship. The incident occurred approximately 4,000km (2,500 miles) from Iran, raising concerns about Iran's missile capabilities.Iran's Foreign Ministry spokesperson, Esmaeil Baghaei, described the missile launches as a 'false flag' operation, suggesting that Israel might have been behind them. This denial comes as the conflict between Iran, the US, and Israel continues to escalate.The UK has condemned the alleged attack, with Foreign Secretary Yvette Cooper stating that the UK would not be drawn into a wider conflict in the Middle East. The UK's Prime Minister, Keir Starmer, noted that the UK would not use a base in Cyprus for Iran-related operations.Israel's military chief, Eyal Zamir, claimed that Iran used 'a two-stage intercontinental ballistic missile with a range of 4,000km' to target the US-UK base. Zamir stated that these missiles pose a threat to European capitals, including Berlin, Paris, and Rome.The incident has significant implications for the ongoing conflict in the Middle East, with analysts suggesting that Iran's missile capabilities could change the calculus of the war for the US and its allies. The conflict has already led to a rise in global oil prices and increased tensions between the US, Israel, and Iran.

President Donald Trump has announced a significant diplomatic pause in the escalating conflict with Iran, instructing the US military to delay any strikes against Iranian power plants and energy infrastructure for a five-day period. The announcement comes as Trump claims both nations have reached "major points of agreement" and are seeking a "complete and total resolution" of hostilities in the Middle East.This decision follows a tense 48-hour ultimatum issued by Trump on Saturday, in which he threatened to "obliterate" Iranian power plants if Tehran did not reopen the Strait of Hormuz. The Strait is a critical global chokepoint, handling approximately one-fifth of the world's oil and liquefied natural gas; its closure has already triggered a severe global energy crisis and spiked oil prices.Speaking from Florida, Trump stated that Iran is eager to make a deal and that his envoys, including Steve Witkoff and Jared Kushner, have been engaged in talks with a "respected" Iranian leader. For a resolution to materialize, Trump asserted that Iran must relinquish its enriched uranium stockpile, and he suggested the strategic Strait of Hormuz would be reopened very soon if an agreement is reached.The prospect of de-escalation provided immediate relief to global financial markets. Wall Street stocks saw early gains on Monday, while oil prices—which had soared since the onset of hostilities—experienced a sharp decline. The easing of tensions is viewed as a potential "off-ramp" for the war, which analysts suggest may be an attempt by Trump to secure a dignified exit from the conflict.While Iran has not officially confirmed the talks, its Foreign Ministry suggested the pause is a tactical maneuver to lower energy prices. However, the Islamic Revolutionary Guard Corps warned that any attack on Iranian power plants would trigger a massive retaliation, including strikes on US bases and economic infrastructure. Analysts believe the likelihood of Iran refusing this offer is remote, as the country seeks to avoid further devastation.

The military campaign launched by the United States and Israel against Iran has entered its 24th day, bringing the region to a precarious juncture. As US President Donald Trump’s 48-hour ultimatum for Iran to reopen the Strait of Hormuz approaches its expiration at 23:44 GMT on Monday, Tehran has issued stern warnings regarding the potential targeting of its electricity grid. In response, Iran has vowed to strike the energy and water systems of its Gulf neighbors, raising fears of a broader regional energy crisis.The conflict is already having tangible repercussions on the global economy. Financial markets are reacting sharply to the escalating tensions, with stocks in China and Hong Kong on track for their worst performance in nearly a year. The uncertainty has fueled stagflation fears, prompting UK Prime Minister Keir Starmer to convene an emergency meeting to address the mounting economic fallout.In Iran, the situation remains volatile. The Israeli military has conducted a wide-scale wave of strikes targeting infrastructure across Tehran, resulting in powerful explosions reported in the central, southern, and eastern parts of the capital. Verified footage shows massive columns of fire and smoke rising over Karaj following an air attack. The Iranian Revolutionary Guard Corps (IRGC) has retaliated by threatening attacks on power plants in Israel and those supplying electricity to US bases, while also targeting a turbine engine production site in Qom used for drone components.The conflict has also spilled over into Gulf Cooperation Council (GCC) nations. Saudi Arabia’s Ministry of Defence confirmed that two ballistic missiles were launched toward Riyadh, with one intercepted and the other falling in an uninhabited area. The UAE reported debris injuries in the al-Shawamekh area, while Bahrain confirmed attacks on the US Fifth Fleet. In Qatar, seven people were killed in a helicopter crash, and Kuwait has formally protested airspace violations to the International Civil Aviation Organization.The human toll continues to rise. In Israel, alerts were triggered across Jerusalem and central Israel following explosions, with the casualty toll from attacks on Dimona and Arad climbing to at least 180 injured. In Lebanon, authorities report that at least 1,029 people have been killed since March 2, with over 100 of the victims being children. In Iraq, at least 60 people have been killed, primarily among pro-Iran Popular Mobilisation Forces.

Iran has issued a stark warning to Gulf countries, threatening 'irreversible destruction' of their water infrastructure if the US follows through on its threat to attack Iran's electricity grid. This move has raised fears of a severe disruption to water supplies in the region, which heavily relies on desalination plants for drinking water.The Gulf countries, including Saudi Arabia, United Arab Emirates, Qatar, Bahrain, Kuwait, and Oman, are highly dependent on these plants, with some countries relying on them for up to 90% of their water supply. For example, Kuwait gets 90% of its water from desalination plants, while Saudi Arabia relies on them for around 70%.Desalination plants are considered critical civilian infrastructure in the Gulf, as they turn seawater into drinking water through a process called reverse osmosis. These plants are situated on the coast, making them an easy target for an Iranian attack, and disabling them would have a significant impact on civilian populations and industries.Iran has already followed through on a similar threat in the past, targeting a desalination plant in Bahrain after one of its own plants was hit. Analysts have warned that any disruption to water infrastructure could trigger a major escalation in the conflict, given the potential economic and civilian impact.The impact of targeting desalination plants would be severe, with most Gulf countries only having water reserves to last around a week. If plants are struck and capacity is taken out, the impact would be quick and severe, potentially wiping out water supplies to major cities in a matter of days.

The global energy crisis caused by the war in Iran and the fallout from the Ukraine conflict is equivalent to the combined force of the twin oil shocks of the 1970s, according to the head of the International Energy Agency (IEA).Fatih Birol, the IEA's executive director, warned that the growing fallout could be seriously compounded by interruptions to the 'vital arteries of the global economy', including petrochemicals, fertilisers, sulphur, and helium.The crisis, which started with bombings against the regime in Tehran on 28 February, already represents the loss of 11m barrels of oil per day and about 140 bcm of gas. This is comparable to the losses seen in the 1973 and 1979 oil crises, which saw a loss of about 5m barrels of oil per day each, and Russia's 2022 invasion of Ukraine, which removed about 75bn cubic metres (bcm) of natural gas from international markets.Birol said that at least 40 energy assets in the Gulf region had been severely or very severely damaged, so even an end to the conflict would not immediately restore energy supply. He also noted that the Asia Pacific region had been badly affected by the closure of the Strait of Hormuz, through which about 20% of the world's oil supply is transported.The IEA has taken emergency measures, including the release of 400m barrels of oil from strategic reserves, the largest emergency measure in its history. Birol said he is consulting world leaders about another possible release of emergency oil supply, noting that the initial move was only 20% of overall stocks.