Gold traded around $4,270 an ounce on Friday and was on track for a weekly decline of more than 2% as a stronger dollar and rising U.S. Treasury yields increased expectations for further Federal Reserve interest-rate increases. The 10-year and 30-year Treasury yields reached their highest levels since 2007 and 2004, respectively, while the dollar rose to a near two-month high. Stronger-than-expected U.S. economic data and elevated oil prices have added to concerns that inflation will remain persistent. Markets are pricing in roughly a 67% probability of a Fed rate hike in October, following the first increase in three years last week. Oil prices later retreated on reports that the U.S. and Iran were considering a phased agreement that could reopen the Strait of Hormuz and lift a U.S. blockade on Iranian ports. Investors are also monitoring Federal Reserve communications, economic projections, central-bank gold purchases and ETF flows for signals that could affect gold prices. Vera offers live prediction-market analysis.