Upside risks for gold and crude oil look appear be building as the war between Israel and Hamas fighters in Gaza threatens to spillover to a far larger and more disruptive regional conflict. The latest escalation stems from continued attacks by Houthi rebels in Yemen on vessels operating in and around the Red Sea, including a reported missile attack in the Gulf of Aden which deviates from methods used previously. In response, several leading news outlets are reporting UK Prime Minister Rishi Sunak has ordered joint military strikes with the US against the rebels, potentially within hours. It’s a fluid situation ... (full story)