Gold traded near $4,200 an ounce on Wednesday after recovering in the previous session, drawing some support from a sharp fall in oil prices. Improving Middle East energy flows and another major U.S. emergency-reserve release pushed crude lower, easing one source of inflation pressure. The metal remained constrained by rising Treasury yields. The 30-year U.S. bond yield reached 5.62%, its highest level since June 2002, as persistent energy-related inflation concerns and hawkish Federal Reserve comments reinforced expectations of restrictive policy. New York Fed President John Williams said another rate increase late this year could be appropriate, citing the Middle East conflict and artificial-intelligence expansion as factors behind elevated inflation. Gold is on track to fall nearly 6% in September, revising earlier accounts that put its monthly decline at about 7%. Higher yields raise the opportunity cost of holding bullion, which does not provide interest payments.