Gold edged lower in early Asian trading, pressured by the prospects of a stronger dollar, which makes dollar-denominated gold more expensive for holders of non-dollar currencies.

Spot gold fell 0.1% to $4,591.53 per ounce. DHF Capital CEO and asset manager Bas Kooijman said in an email: "The lack of progress in diplomatic efforts in the Middle East may continue to fuel demand for the US dollar." In addition, he added: "Ongoing disruptions in the Strait of Hormuz are pushing energy prices higher, intensifying inflation concerns. These inflation worries, in turn, are driving up US Treasury yields, putting pressure on non-yielding assets such as gold."