Spot gold rose 0.4% to $4,372.19 an ounce on Wednesday, supported by a subdued U.S. dollar. Renewed attacks between the United States and Iran, along with upcoming U.S. inflation readings, kept attention on the interest-rate outlook. Expectations of a Federal Reserve rate hike continued to cap bullion, even as concerns over dollar debasement trades and fiscal deficits lent support. Spot silver gained 0.4% to $66.00, platinum climbed 1% to $1,831.76, while palladium slipped 0.3% to $1,344.69.

India’s Sensex and Nifty slid in early trade on Wednesday, falling to 75,060.61 and 23,506.10. Brent crude futures moved close to the $100-a-barrel level, trading at $99.33, as tensions in West Asia escalated. Heavyweights including HCL Tech and Infosys led the declines, after the Sensex had already ended the previous session down 0.73%.

U.S. forces destroyed five Iranian crude oil carriers on Tuesday, lifting concerns about supply disruptions in the Middle East. Brent crude futures rose 1.49% to $99.38 a barrel, while WTI gained 1.54% to $94.46 per barrel. U.S. equity futures were mixed, with Dow futures down 0.11% as S&P 500 and Nasdaq 100 futures edged higher.

International oil prices rose for a fourth session on September 9, with Brent crude futures at $99.49 a barrel and WTI at $94.63. Iran’s Revolutionary Guards launched a fresh round of attacks on U.S. destroyers and a U.S. base in Jordan, describing the strikes as retaliation for U.S. action against Iranian oil tankers. Goldman Sachs warned crude could reach $120 a barrel if attacks on Middle East shipping intensify, while JPMorgan said each additional month of supply disruption could add $7 to $8 a barrel to Brent.

Spot gold fell 0.1% on Wednesday to $4,349.44 per ounce, while December futures slid 1% to $4,393.30. Rising oil prices tied to the Middle East conflict have intensified inflation concerns, reinforcing expectations that the Federal Reserve will signal a rate increase this week. A Reuters poll found the Bank of England is expected to keep its 3.75% rate unchanged through mid-2027. Elsewhere, silver dipped 0.1%, platinum rose 0.6% and palladium fell 0.2%.

Rio Tinto shares have risen 53% over the past 12 months and are up 21% year to date. Copper futures have climbed to around US$6.8 per pound from about US$4.5 roughly 12 months ago, lifting underlying EBITDA in the company’s copper business 84% to US$5.7 billion and taking it to roughly 36% to 39% of group earnings. In the first half of FY26, Rio Tinto reported a 28% increase in underlying EBITDA while the ASX 200 was broadly flat over the same period.

Canadian space technology company MDA reported second-quarter revenue up nearly 34% year over year to $499 million. Revenue from its satellite systems business rose nearly 45%, driven by higher work volumes on the Telesat Lightspeed program, while its robotics and space operations segment increased about 13%. The company reported about $4 billion in backlog, and while the stock has pulled back from its recent high, it is still up about 271% over three years.

The Trump administration said it had “profound concern” about Ford’s alleged links to Chinese technology and manufacturing, including relationships with companies such as battery maker CATL. It also criticized Ford for delaying plans to move production of some Lincoln models from China to the United States until 2030. Ford rejected the allegations, saying a Michigan battery facility has created 1,700 jobs and that its arrangement with CATL is a limited technology-licensing deal. Experts told CNN that Chinese automakers could appear in U.S. showrooms within the next five to 10 years.