Gold Edges Lower On Inflation, Rate Hike Concerns

Gold prices traded lower on Wednesday as renewed Middle East tensions continued to push oil prices higher, clouding the outlook for inflation and interest rates. Spot gold fell 0.9 percent to $4,448.70 an ounce, while U.S. gold futures for August delivery were down 1 percent at $4,476.40. Inflation concerns returned to the fore as Brent crude prices jumped nearly 3 percent toward $99 a barrel foll…