India, July 15 -- Gold prices fell toward $4,000 an ounce on Wednesday as investors weighed geopolitical tensions and reacted to mixed economic data from China.
Spot gold dipped 0.6 percent to $4,028.40 an ounce as oil prices extended gains for a third consecutive session amid escalating Middle East tensions. U.S. gold futures were down 0.9 percent at $4,034.75.
The U.S. dollar struggled for direction after falling from a two-week high as softer U.S. inflation data helped traders to scale back their expectations for Federal Reserve interest rate hikes.
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