Jefferies Names 6 Top India Stock Picks Across Key Sectors 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
ECB Set for September Rate Hike as Energy Prices Fuel Inflation 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Japan Foreign Reserves Plunge $79.6 Billion After Record Yen Intervention 
Asian Stocks Rally as AI Optimism Fuels Chipmaker Surge 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
China Inflation Accelerates in August as CPI, PPI Rise 
Oil Prices Rise as Hormuz Tensions Threaten Supply 
South Korea GDP Surges on Chip and AI Boom 
Japan, U.S. Stay Aligned on Yen as Currency Surges 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
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Gold prices moved higher on Wednesday, snapping a three-session losing streak as a weaker U.S. dollar supported bullion. Investors also remained focused on escalating Middle East tensions, rising oil prices and the Federal Reserve’s upcoming interest rate decision.
Spot gold (XAU/USD) gained 0.4% to $4,374.32 an ounce at 21:33 ET (01:33 GMT), while gold futures fell 0.5% to $4,418.11. Silver rose 0.7% to $66.19 an ounce, and platinum climbed 1.2% to $1,840.52. The U.S. Dollar Index edged lower to 98.82.
Gold’s rebound followed a 2.6% decline over the previous three sessions. A softer dollar made the precious metal more affordable for buyers using other currencies, helping spot prices recover above $4,370.
However, gold remains under pressure after stronger U.S. payroll data increased expectations that the Federal Reserve could raise interest rates at its Sept. 14-15 meeting. Markets are pricing in roughly a 60% probability of a rate hike. Higher interest rates and bond yields typically reduce the appeal of non-yielding assets such as gold.
Investors are now awaiting U.S. inflation data later this week for further clues on Fed policy. Stronger-than-expected inflation could strengthen the case for higher rates, while softer figures may support gold prices by reducing pressure on policymakers to tighten monetary conditions.
Geopolitical risks are also influencing the outlook. U.S. forces recently destroyed five Iranian oil tankers carrying crude near Kharg Island following an attempted missile attack on an American warship. Brent crude has remained near $100 per barrel, raising concerns that elevated energy costs could keep inflation high.
ANZ analysts said investors appeared cautious ahead of the Federal Open Market Committee meeting, with higher oil prices contributing to rising bond yields and weighing on gold. Central-bank demand, however, remains supportive.
China’s central bank purchased about 650,000 ounces of gold in August, its largest monthly addition since 2023. Gold has traded around $4,400 after recovering from near $4,000 in July, with central-bank buying providing longer-term support despite near-term pressure from Fed policy, bond yields and energy prices.
