Spot gold falls nearly 1% to $4,138 per ounce

Gold: Gold is a precious metal traded globally as both a commodity and a financial safe-haven asset. In the reported event, spot gold fell nearly 1% to $4,137.85 per ounce, while recent market coverage attributes pressure to elevated Treasury yields, a firmer U.S. dollar, and expectations that the Federal Reserve may keep interest rates higher for longer. Market drivers: Recent reporting says higher U.S. Treasury yields and a stronger dollar have weighed on gold because the metal does not generate interest income. Safe-haven demand: Gold has remained supported by central-bank reserve diversification and geopolitical hedging, which have helped sustain demand despite higher yields. Federal Reserve outlook: Softer U.S. inflation recently reduced expectations for an October Federal Reserve rate increase, partly offsetting the negative effect of elevated yields and the stronger dollar.