Gold price declines near $4,000
Gold price (XAU/USD) declines to near $4,000 during the early Asian session on Tuesday.
The precious metal extends its downside as escalating tensions between the United States and Iran pushed oil prices up, intensifying inflation concerns.
US-Iran tensions have led to a new wave of strikes, with US Central Command saying the US military began a new wave of strikes on Monday, the 10th straight day of attacks.
Traders continue to assess the likelihood of the US Federal Reserve hiking interest rates to contain inflation, with swap traders seeing low odds of the Fed raising rates at its next meeting in July.