September 9, 2026 - Gold Rises 0.93% to $4,396.17, Silver Gains 1.26% to $66.58 and Brent Climbs 0.82% to $95.15

Global Markets

(A) Precious Metals

Gold: $4,396.17/oz (+0.93%)

Gold rose 0.93% to $4,396.17/oz as a weaker U.S. dollar and escalating Middle East tensions supported safe-haven demand. Higher oil prices and stronger U.S. labour data kept Fed rate-hike expectations elevated, limiting stronger gains.

Silver: $66.58/oz (+1.26%)

Silver gained 1.26% to $66.58/oz, supported by dollar weakness and stronger precious-metals demand. Higher interest-rate expectations and concerns that rising energy prices could keep inflation elevated capped further upside.

(B) Energy

Brent Crude: $95.15/bbl (+0.82%)

Brent crude climbed 0.82% to $95.15/bbl as Middle East tensions increased concerns over supply disruptions and shipping risks around the Strait of Hormuz. Inflation and global-growth concerns limited a stronger move.

(C) FX

USD/JPY: 153.65 (-0.20%)

USD/JPY fell 0.20% to 153.65 as BOJ rate-hike expectations, repatriation flows and carry-trade unwinding strengthened the yen. The yen has gained about 4% in September.

EUR/USD: 1.1631 (0.00%)

EUR/USD held flat at 1.1631 as U.S. dollar weakness supported the euro, while markets remained cautious ahead of U.S. inflation data and central-bank decisions.

GBP/USD: 1.3546 (+0.13%)

GBP/USD rose about 0.13% to 1.3546 from the previous session’s 1.3529 as a softer U.S. dollar supported sterling, while higher oil-driven inflation risks limited stronger gains.

AUD/USD: 0.7225 (+0.12%)

AUD/USD gained 0.12% to 0.7225 as broad U.S. dollar weakness supported the Australian dollar, despite cautious risk sentiment from Middle East tensions.

NZD/USD: 0.5862 (+0.16%)

NZD/USD rose 0.16% to 0.5862 as a weaker U.S. dollar supported the New Zealand dollar, while investors remained cautious ahead of U.S. inflation data.

Volatility

The VIX remained around 15.72, indicating relatively calm market conditions despite Middle East tensions, higher oil prices and upcoming U.S. inflation data.

What Markets Are Watching

1. Middle East Tensions & Brent Near $100

Escalating military activity involving Iran, the U.S., Houthis and Saudi Arabia remains the key immediate market risk. Brent approaching $100/bbl is increasing concerns over global inflation and potential supply disruptions, particularly around major Middle East shipping routes.

2. U.S. Inflation Data & Fed Policy

Markets remain focused on upcoming U.S. producer and consumer inflation data, which could influence whether the Federal Reserve raises rates or keeps policy unchanged at next week’s meeting. Strong August employment figures have already increased expectations of further tightening.

3. Bank of Japan Policy Shift

The yen’s sharp September rally reflects growing expectations of another BOJ rate increase. Markets are watching whether the central bank delivers the widely expected 25-basis-point hike next week and whether Governor Ueda signals further tightening beyond September.