Spot gold was up 0.6% at $4,023.77 per ounce by 0747 GMT, after touching its lowest level since July 1 at $3,983.29

Gold falls to a two-week low as oil prices surge, raising inflation concerns and increasing expectations for U.S. interest rate hikes.

Spot gold was up 0.6% at $4,023.77 per ounce by 0747 GMT, after touching its lowest level since July 1 at $3,983.29

Gold prices saw a slight increase on Wednesday as inflation data eased rate hike worries. Renewed Middle East conflict and rising oil prices, however, limited gains for the…