Inflation Fears Spark Market Volatility Amid Rising Oil Prices

The global market is reacting to rising inflationary pressures, with gold prices pulling back in the last session. This comes after Federal Reserve Chair Kevin Warsh expressed a hawkish stance on inflation, causing investors to reassess the interest rate outlook.

WTI crude oil prices are also extending their gains in Asian trading due to U.S. President Donald Trump's threat of further strikes against Iran. This raises concerns that renewed hostilities could prolong disruptions to energy flows through the Strait of Hormuz.

Copper futures, however, are climbing above $6.60 per pound amid ongoing supply constraints. Data shows that copper production in top producer Chile fell 9.4% YoY in July, highlighting tightening supply conditions in global markets.