Gold declines to near $4,100 amid US-Iran tensions

Gold price (XAU/USD) edged lower to around $4,100 during the early Asian session on Wednesday. The decline follows reports that three oil tankers were attacked in and around the Strait of Hormuz, prompting the United States to promise a response against Iran.

Renewed geopolitical tensions in the Middle East are weighing on risk sentiment, with the US dollar strengthening on safe-haven flows. This is putting additional selling pressure on the precious metal, which had earlier found support from ongoing uncertainty.