US permanent representative to the UN said Washington will not allow Iran to hold the global economy hostage. He said Iran has attacked civilian vessels and impeded freedom of navigation, affecting global agriculture.

China Maritime Safety Administration said the Qinglan Maritime Bureau issued a navigation warning that rocket debris is expected to fall in parts of the South China Sea on July 4 from 16:30 to 18:30 CST; vessels are prohibited from entering the affected area.

Gold hit a daily high in European trade and extended a steady rebound after a modest dollar pullback, but remains capped inside the prior session's range as elevated Fed rate-hike expectations and geopolitical risk support the dollar. Traders are sidelined ahead of US nonfarm payrolls. CME FedWatch prices about a 64% chance of a September Fed hike and roughly an 85% chance of at least one hike by year-end. Fed chair Kevin Warsh reinforced the 2% inflation target in remarks Wednesday. Technically, gold trades below the 100-period moving average, reinforcing a near-term bearish bias.