Gold is falling due to the uncertain outlook created by the conflict in the Middle East.

The price of gold fell in early trading, but still remained above the $5,200 mark. Currently, investors are struggling to deal with the complex information related to the Middle East conflict. Gold prices rose in the previous trading session, boosted by a weaker dollar and lower oil prices, easing concerns about inflation. However, analysts at ANZ Bank stated: "These developments continue to cast a shadow over the prospects for a U.S. rate cut. This has led investors to withdraw more and more gold from ETFs." Traders are now waiting for U.S. inflation data to be released later this week to look for more clues about interest rate outlook. New York gold futures fell 0.7% to $5,204.40 per ounce.