Spot gold gained 0.9 per cent to $4,113.73 per ounce, having jumped to its highest since July 10

Gold climbed to a nearly two-week high on Wednesday as technical buying lifted prices as investors monitored the ongoing Middle East ‌war.

Spot gold gained 0.9 per cent to $4,113.73 per ounce, as of 0123 GMT, having jumped to its highest since July 10.

In the Middle East, two oil tankers carrying Saudi crude to Asia reversed course in the Red Sea on Tuesday after threats from Yemen’s Houthis, as a widening Middle East war disrupted shipping through two of the world’s most important sea routes.

Oil ‌prices jumped more than 1 per cent and were trading near their highest levels in six weeks.

Elsewhere, the US central bank will keep its key interest rate steady for the rest of 2026 to tackle a five-year-long inflation problem, according to the median forecasts of economists in a Reuters poll.

Canadian Prime Minister Mark Carney said he and US President Donald Trump agreed to intensify trade negotiations after speaking on Tuesday, but ​warned he would consider all options if the tariffs Trump threatened on Monday go ahead.

Two ‌senior Howden brokers gave evidence in a private London hearing after a US court sought their testimony for use in litigation over a disputed insurance ​claim stemming ‌from losses at Newmont Corporation’s Ahafo gold mine in Ghana, court documents show.

Sibanye ‌Stillwater said on Tuesday it is appealing against a recent US International Trade Commission ruling that imports of Russian palladium do not pose an imminent threat ‌to ​US production of ​the metal.

Spot silver added 1.8 per cent to $59.82 per ounce, platinum rose 1.6 per cent at $1,655.61 and palladium advanced 1.6 per cent to $1,302.25.