Gold holds steady as rate-hike bets ease and oil prices rise

Gold traded near $4,170 an ounce following a 1.6% rise, holding steady as traders weighed easing expectations of an imminent Federal Reserve rate hike against surging oil prices.

Traders reduced bets on a quarter-point rate hike from one-in-three to about 15% after Federal Reserve Chair Kevin Warsh's speech in Bangkok.

Spot gold fell 0.1% to $4,168.49 in New York as Brent crude touched $110 a barrel for the first time since May, pushing long-end Treasury yields higher.