Global markets traded cautiously after the U.S. Labor Day holiday as the continuing U.S.-Iran conflict threatened energy supplies, raised inflation risks and complicated central-bank policy expectations. Spot gold rose as much as 0.5% to $4,428.23 and was also reported at $4,409.68 an ounce, while Brent crude approached $97 a barrel. The yen climbed 0.6% to 153.51, its strongest level since Feb. 18, as Asian equities were mixed, the U.S. 10-year Treasury yield rose to 4.788% and traders priced about a 60% probability of a 25-basis-point Federal Reserve increase at its September meeting. Strong U.S. hiring, Japan’s higher revised growth and stronger real wages, Canada’s tariffs on roughly $20 billion of U.S. goods, and upcoming U.S. producer- and consumer-price data shaped the outlook. Bitcoin rose 0.1% to $79,333.01 and ether gained 0.2% to $2,498.94.