Gold headed for the biggest weekly loss in six years, as war in the Middle East boosted energy and reduced expectations for rate cuts. Bullion traded near $4,685 an ounce, down almost 7% this week, the most since March 2020. Soaring crude, natural gas and fuel prices triggered by the conflict are raising inflation concerns, reducing prospects of central banks lowering borrowing costs. That hurts gold as it doesn’t pay interest. The precious metal — widely viewed as a haven — has dropped every week since the US and Israel attacked Iran last month. The retreat has come as Treasury yields and the US dollar gained ... (full story)