Gold attracts some dip-buyers during the Asian session on Thursday and reverses a part of the previous day’s retracement slide from a nearly four-week high. Hopes for Iran diplomacy, along with diminishing odds of a rate hike by the US Fed, keep the US Dollar depressed near its lowest level since early March, supporting the bullion. However, risks associated with the Strait of Hormuz could limit deeper USD losses and cap gains for the precious metal.