Gold edges higher on soft US inflation, Gulf conflict clouds rate outlook

Gold edged up 0.1% to 4,056.69 dollars per ounce after a 2% rebound in the prior session, supported by softer-than-expected US June consumer inflation data. Fed rate hike probability for September fell to 58% from 76%, but Middle East tensions between the US and Iran kept oil prices rising for a third session, clouding the outlook. Investors also awaited China Q2 GDP data, with analysts expecting growth toward the lower end of Beijing's annual target.