July 13 (Reuters) - Gold fell more than 1 percent in early Asian trading on Monday, as concerns about the closure of the Strait of Hormuz sent oil prices soaring, reviving expectations of an interest rate hike to combat inflationary pressures.

Gold fell 1.2 percent to $4,072.78 an ounce in spot trading by 00:50 GMT. U.S. gold futures for August delivery dropped 0.8 percent to $4,081.70.

* US and Iranian forces launched intense missile and drone attacks over the weekend, with Tehran targeting US facilities in various Gulf countries on Sunday and announcing that it had once again closed the vital Strait of Hormuz.

Oil prices jumped by about four percent, the dollar rose and stock markets in Asia declined as fighting intensified in the Gulf region.

* This week, attention will focus on Federal Reserve Chairman Kevin Warsh's first semi-annual testimony before Congress, along with a host of key U.S. economic data such as the Consumer Price Index, Producer Price Index and June retail sales figures, in search of new clues about the economy, inflation and monetary policy outlook.

* The Federal Reserve said on Friday in its monetary policy report to Congress that inflation in the United States "rose further this spring, as the increasing impact of tariffs, rising war-related energy costs and the boom in artificial intelligence development exacerbated price pressures that took hold last year."

Gold traded at a significant discount in India last week due to the impact of price volatility, while demand in China remained stable, with the Chinese central bank announcing in June the largest monthly increase in gold reserves in more than two and a half years.

* As for other precious metals, silver fell 1.6 percent to $58.89 an ounce in spot trading, platinum declined 1.1 percent to $1,610.22, and palladium dropped 1.3 percent to $1,260.15.