Gold eased on Tuesday and was on track for its sharpest quarterly decline in 13 years, as inflation concerns stemming from the Middle East conflict reinforced expectations that the U.S. Federal Reserve could hike interest rates. Spot gold dropped 0.2% to $4,008.94 an ounce after earlier hitting its lowest level since November. Prices are down 11.3% in June so far. U.S gold futures for August delivery dipped 0.4% to $4,022.70 an ounce. The precious metal was headed for its first quarterly decline since 2024 and its steepest retreat since the June quarter of 2013.