Gold Rate Today, July 22: Check 18, 22 and 24 carat gold prices in Chennai, Mumbai, Delhi, Kolkata and other cities

US-Iran War News Live Updates: US completes 11th night of strikes against Iran as IRGC vows operation continues

City Wise Rate:

Tensions in West Asia

As airstrikes against Iran enter their 11th straight night, Defence Secretary Pete Hegseth reported that the war’s financial toll has climbed to $37.5 billion. U.S. President Donald Trump has issued a warning of a severe and imminent attack on an alleged Iranian nuclear complex known as Pickaxe Mountain. Despite ongoing diplomatic efforts to cool tensions, Iran’s president acknowledged the nation is now in a “full-scale war.”

Oil prices face new disruptions as escalating conflicts between the U.S. and Iran have collapsed yet again. Two oil tankers are ablaze in the Strait of Hormuz following recent Iranian strikes against Gulf nations.

Amid rising regional conflict, Iran reported executing retaliatory drone strikes on U.S. military facilities at Camp Doha in western Kuwait. Meanwhile, U.S. Secretary of State Marco Rubio indicated Washington’s willingness to engage in diplomatic talks, while criticising Tehran for failing to approach negotiations seriously. The ongoing tension has driven crude prices higher, with Brent crude futures climbing $1 (1.1%) to reach $92.01 a barrel.

Middle Eastern geopolitical tensions temporarily cooled in June following an unexpected, brief agreement between the United States and Iran. Signed in mid-June 2026, the two-month ceasefire aimed to pause regional fighting and guarantee safe passage for cargo ships through crucial trade corridors.

However, the path to long-term peace remains on shaky ground. Anxieties are rising once more as Israel strongly opposes the truce and ongoing border skirmishes threaten to break the delicate agreement.

Because the region remains unpredictable despite these diplomatic efforts, investors continue turning to gold to safeguard against economic instability. On the home front, local gold prices fluctuate daily based on international trends, import duties, and changes in the value of the local currency.