China Gross Domestic Product (YoY) below expectations (4.5%) in 2Q: Actual (4.3%)

Gold resumes the previous day’s late pullback from $4,100 and falls back below $4,050 early Wednesday as escalating US-Iran tensions keep the geopolitical risk premium in play. However, reduced bets for a Fed rate hike keep the US Dollar on the back foot, which could cap the downside in the non-yielding bullion.