Gold, U.S. equities and Australia’s ASX 200 fell as renewed Middle East hostilities pushed oil toward $100 a barrel and intensified inflation concerns. Stronger-than-expected U.S. August employment data increased expectations that the Federal Reserve could raise interest rates at its September 15–16 meeting, while weaker Australian business and consumer sentiment added to pressure on local shares. Spot gold traded at $4,352.14 an ounce after touching $4,341.41 in Asian trading, with the newer report recording a 2.6% three-session decline. The ASX 200 fell 0.1% to 8,911, a six-week low, as CSL cut FY26 guidance and banks declined, although energy and mining shares limited losses. Brent crude briefly reached $99.46 a barrel, WTI rose to $93.03 and swaps priced roughly a 60% chance of a September Federal Reserve hike, up from about 50% before the jobs data.