Gold steadied around $4,180 an ounce on Wednesday after a 1.6% gain Tuesday, as traders balanced lower oil prices against rising Treasury yields. Brent crude held a decline after Saudi Arabia boosted pipeline flows, easing supply fears near the Strait of Hormuz, though oil remains up roughly 70% this year. Meanwhile, the yield on the longest US Treasury bond climbed for a sixth day to its highest since 2002, pressuring non-yielding bullion.

Fed officials signaled further tightening may be needed. New York Fed President John Williams said one more rate hike "late this year" may be appropriate, cutting market odds for an October increase to about 50% from 70%. Williams cited the Middle East conflict and AI investment as key inflation drivers.

Three other Fed officials also referenced potential hikes Tuesday. Gold is on track for a nearly 6% monthly drop in September. Markets now await US personal consumption expenditure data Wednesday and non-farm payrolls Friday for rate clues.

Spot gold edged up 0.1% to $4,184.27 in Singapore; silver rose 0.1% to $61.54.