Gold traded around $4,290 an ounce on Tuesday, its lowest level since early August, pressured by a stronger U.S. dollar and elevated Treasury yields. Crude oil prices remained above $100 a barrel after attacks on Saudi Arabia’s energy infrastructure forced the East-West Pipeline offline, raising concerns about global supply and renewed inflation. Tensions involving the United States, Iran and the Houthis around the Strait of Hormuz and Bab el-Mandeb added to geopolitical risks. Markets are pricing in a 25-basis-point rate hike from the Federal Reserve on Wednesday, with investors focused on policymakers’ guidance for indications of further tightening. The Bank of Japan is also expected to raise interest rates on Friday, while high energy prices and persistent Middle East tensions continue to complicate the global inflation outlook.