June 11 (Reuters) - Gold fell to its lowest level in more than six months on Thursday as oil prices rose following fresh U.S. strikes on Iran, adding to concerns about inflation and interest rates remaining high for longer.

By 0043 GMT, spot gold was down 0.2 percent at $4,063.87 an ounce, after hitting its lowest level since November 21 earlier in the day.

U.S. gold futures for August delivery fell 1.1 percent to $4,086.50.

The U.S. military said Wednesday that the United States had begun a new round of strikes against multiple targets overnight in Iran, after President Donald Trump vowed to launch new attacks if a peace agreement is not reached.

Oil prices rose by more than two dollars on Thursday after Iran announced it was closing the Strait of Hormuz following the US strikes.

Higher crude oil prices can accelerate inflation, and while gold is seen as a hedge against inflation, higher interest rates tend to negatively affect the non-yielding metal.

Data showed that the US consumer price index rose in May at its fastest pace in three years, driven by higher energy prices amid conflict in the Middle East, giving the Federal Reserve (the US central bank) more reasons to keep interest rates unchanged until 2027.

Markets are awaiting the U.S. Producer Price Index data for May, due to be released later today, to assess the monetary policy stance.

As for other precious metals, silver fell 0.9 percent to $63.15 an ounce in spot trading, platinum lost 0.6 percent to $1,655.06, while palladium rose 1 percent to $1,225.25.