Gold futures opened at $4340.30 per ounce on Tuesday, down 0.3% from Monday's close, and further declined to $4315.30 during the session. Meanwhile, the 10-year U.S. Treasury yield rose to its highest level since 2007. Market expectations for a Federal Reserve rate hike after the FOMC meeting, which begins today, have intensified, with the CME FedWatch Tool showing a 92.5% probability of a hike. Additionally, recent attacks on a key Saudi oil pipeline pushed oil prices back above $100 per barrel.