Gold fell to an 11-week low on Wednesday, as oil prices rose on renewed hostilities between the U.S. and Iran, fuelling concerns about inflation and interest rate hikes.

Spot gold was down 1.7% at $4,191.84 per ounce by 0747 GMT, after hitting its lowest level since March 23. U.S. gold futures for August delivery shed 1.6% to $4,215.60.