Gold remains on the back foot during the Asian session on Tuesday and looks to extend the previous day’s late pullback from a three-day high, around the $4,580 region. Concerns about the war-driven spike in inflation continue to fuel hawkish Fed bets and benefit the US Dollar, which undermines the non-yielding bullion and drags it further below the $4,500 psychological mark. The recent range-bound price action, however, warrants caution amid contrasting signals over peace talks to end the Middle East conflict.