A strengthening El Niño has pushed India’s monsoon rainfall to about 15% below normal, raising risks for the next sugar crop. Analysts expect India’s 2026/27 sugar output to fall to 29 million to 31 million tons, versus 31 million tons this season. The International Sugar Organization has warned the global market could face a deficit of roughly 260,000 tons. India last month allowed duty-free imports of raw sugar to curb record domestic prices, while New York raw sugar futures are up about 30% this year.

Silver extended its decline as rising U.S. Treasury yields and firmer expectations of a Federal Reserve rate increase pressured the metal, pushing silver ETFs down more than 3%. SBI Silver ETF fell 3.2% and ICICI Prudential Silver ETF slid 3.1%. Spot silver slipped 0.3% to $63.40 an ounce after plunging 5.5% in the prior session, while the probability of a rate hike rose to around 70%, according to Reuters. Gold ETFs also traded lower, and Brent crude climbed 6% on geopolitical conflict.

Brent crude futures rose 1% to $108.68 a barrel and WTI gained 1% to $103.45, putting both benchmarks on track to end the week above $100 a barrel for the first time since midMay. Attacks along key Middle East shipping routes stoked concerns about supply disruptions, leaving oil up nearly 13% on the week, the steepest gain since the week ended July 17. Gold was steady near $4,315 an ounce while silver slipped 0.3% to $63.40 an ounce.

Precious metals slid sharply on September 10, with Comex gold down 1.68% to below $4,386 an ounce and silver plunging 5.37% to near $65 an ounce. The Dollar Index rose to 95.46 while Brent crude climbed above $102 a barrel. U.S. Treasury yields also moved higher, reinforcing inflation concerns and expectations of tighter Federal Reserve policy, which weighed on bullion.

Apple introduced its first foldable phone, the iPhone Duo, priced at $1,999. The passport-style device opens into a 7.6inch display that can be used horizontally or vertically and includes a smaller outer screen when folded. The launch was led by new CEO John Ternus and is seen as Apple’s biggest iPhone redesign since the iPhone X in 2017. Analysts forecast strong demand and say Apple could take 40% of the foldable market by the end of next year, even as the stock fell 0.3% on the day of the announcement.

On Sep 9, foreign institutional investors (FIIs) were net sellers of Indian equities worth Rs 583 crore, while domestic institutional investors (DIIs) net bought Rs 1,509 crore. Crude prices have jumped nearly 43% from their late-June low, while the Nifty 50 fell 0.9%. Nifty IT slid 3.2% for a sixth straight session and Coforge dropped 5.3% after its chairman resigned following internal audit concerns. Metals rose 1.8%, the only sector to finish in the green.

Gold rallied 13% in August 2026 to end the month at $4,563 per ounce, posting its third-highest monthly return in 25 years, according to World Gold Council data. The move was supported by broad inflows into global gold ETFs, including $7.9 billion into Europe and $7.8 billion into North America. COMEX net managed money positioning rose by $13 billion, while a weaker dollar also underpinned prices.

Benchmark three-month copper on the London Metal Exchange climbed to a record $14,533 a ton, taking its 2026 gain to 16%. About 51% of LME warrants have been canceled, suggesting more than 121,000 tonnes of copper could leave the exchange’s warehouse system as supply tightens. A softer dollar and fund buying have also supported prices.

Copper on the London Metal Exchange climbed to a record intraday high of $14,533 a ton amid turbulence around tariff policy and disruptions at mines. Prices are up 17% this year and 47% over the past 12 months, supported by a persistent long-term supply-demand imbalance. Treatment charges have fallen into negative territory, and without a second-half production recovery global mined supply is set for its first annual decline since 2017, while several major miners’ copper profits have surged.