New Delhi, Sept. 2 -- The price of the yellow metal in India's retail market declined on Wednesday, 2 September, amid ongoing uncertainty over the US-Iran conflict in the Middle East, and fears of a Fed rate hike.

In the international markets, gold fell on Wednesday to its lowest in more than three weeks, as the escalating Middle East conflict lifted oil prices and stoked inflation.

Spot gold was down 0.6% at $4,304.01 per ounce by 0017 GMT, its lowest since 7 August. Prices were headed for a fourth straight session of losses and remained below the 200-day moving average, a closely watched technical level, according to a CNBC US report.

The US launched a barrage of airstrikes against Iran on Tuesday, prompting Iranian retaliation, in t...