May 28 (Reuters) - Gold prices fell on Thursday as fresh U.S. attacks on Iran pushed oil prices higher, raising concerns about rising inflation and casting a shadow over interest rate expectations.

By 0129 GMT, spot gold had fallen 0.8 percent to $4,419.60 an ounce, and U.S. gold futures for June delivery were down 0.7 percent at $4,417.10.

The dollar rose, increasing the cost of gold, which is priced in US dollars, for holders of other currencies.

A U.S. official told Reuters that the U.S. military carried out new airstrikes in Iran targeting a military site that officials concluded posed a threat to U.S. forces and commercial shipping in the Strait of Hormuz, hours after President Donald Trump denied an Iranian report about an agreement to restore traffic through the strategic waterway.

Oil prices rose by about two percent in early Asian trading as tensions between the United States and Iran continued.

Federal Reserve Governor Lisa Cook said on Wednesday that she believes the U.S. central bank should keep short-term interest rates unchanged for now, but with tariffs, the Iran war and increased AI-related investments pushing prices up, she is prepared to raise interest rates if necessary.

Investors are awaiting US personal consumption expenditures data, due later today, for clues about the direction of US monetary policy.

As for other precious metals, silver fell 1.7 percent to $73.34 an ounce in spot trading, platinum lost 0.5 percent to $1,909.15, and palladium dropped 0.7 percent to $1,381.64.