Gold drops as oil rises on renewed US-Iran hostilities

Gold falls for fourth straight session

Gold fell ​to an 11-week low on Wednesday, as the dollar and oil prices rose on ‌renewed hostilities between the U.S. and Iran, fuelling concerns about inflation and interest rate hikes.
Spot gold was down 1.9% at $4,181.04 per ounce by 0414 GMT, after hitting its lowest level since March 23. ​U.S. gold futures for August delivery shed 1.9% to $4,204.70.

Source: Reuters