Spot gold fell 0.6% to $4,494.52 a troy ounce in Asian trade at 0126 GMT after minutes from the Federal Reserve’s July meeting showed broader support for raising interest rates. More officials favored a rate increase last month than the three who formally dissented, while others said they would support a hike if inflation fails to improve. Higher interest rates typically pressure nonyielding assets such as gold. Despite the minutes’ hawkish tone, ING’s James Knightley expects the Federal Reserve, the U.S. central bank, to remain on hold well into 2027. He said officials who voted against rate increases would need stronger U.S. employment data and higher inflation to change their views, but he does not expect those conditions to emerge.