Gold fell on Monday as the U.S.-Israeli war on Iran fuelled inflation concerns, which dimmed near-term U.S. interest rate cut prospects and boosted the dollar. Spot gold was down 1.2% at $5,109.39 per ounce as of 1012 GMT, after falling more than 2% earlier. U.S. gold futures for April delivery lost 0.8% to $5,118.20. "Historically, it is not uncommon to see gold falling as first reaction when financial markets show stress signs as gold is a highly liquid asset," said UBS analyst Giovanni Staunovo. Stock markets in Asia nosedived as the inflationary jolt from surging oil prices threatened to raise living costs and ... (full story)