Gold price (XAU/USD) reflects signs of softness on Thursday, trading 0.5% lower at around $4,056 during the Asian trading session.

Resurgent Middle East tensions put fresh pressure on the precious metal.

The Aussie Dollar remains unable to find sustainable upside traction, keeping its trade below the key 0.7000 yardstick for now. So far, the constructive tone should remain unchallenged while above its critical 200-day SMA.

The Reserve Bank of New Zealand (RBNZ) raised the Official Cash Rate (OCR) by 25 basis points to 2.50% at 02:00 GMT on Wednesday, its first hike in three years and the moment the bank that cut deeper than any G10 peer last cycle turned to face the other way.

The German DAX index reached a fresh all-time high of 25,900 on Monday after five consecutive days of gains. The benchmark has rallied more than 4% over the past week and more than 16% since its March low, recorded after the outbreak of the Iran war.

Gold is fading in the tepid rebound above $4,100 early Wednesday, having reversed a part of the previous sell-off. Traders eagerly await the Minutes of the US Federal Reserve (Fed) June monetary policy meeting, due later in the day, for fresh trading impetus.