Gold falls as Mideast escalation dims hopes of easing inflation

Gold prices fell on Thursday as the escalating Middle East conflict showed no signs of abating, erasing ​recent optimism over easing inflation and fuelling concerns that surging oil prices could lead to interest rate hikes. Spot ​gold was ​down 0.6% at $4,034.42 per ounce by 0349 GMT. U.S. gold futures for August delivery lost 0.3% to $4,039.90. "Gold is ...

Iran Tells Yemen's Houthis To Close Bab El-Mandeb Gateway To The Red Sea If US Hits Power Network – RTRS Cites Sources *(IR) FOLLOW-UP: IRAN TELLS YEMEN'S HOUTHIS TO CLOSE BAB EL-MANDEB GATEWAY TO THE RED SEA IF U.S. HITS POWER NETWORK - PRESS **TTN Note: A closure or major disruption of the Bab el-Mandeb Strait would directly threaten Saudi Aramco's Yanbu Red Sea exports, which have reached… *(IR) Representatives of Iran's Islamic Revolutionary Guard Corps (IRGC) who are already in Yemen will control the decision on when to close the Bab el-Mandeb strait - press (More at ) IRAN OPENS A SECOND ENERGY FRONT AS HORMUZ CLOSURE THREATENS RED SEA TRADE Reuters reports Iran is signaling that Yemen’s Houthis could close the Bab el-Mandeb Strait if U.S. attacks continue. Hormuz is already shut, placing two major oil routes under pressure. The hit… pic.twitter.com/9TnTjFWSdJ

Gold fell 2% on Thursday, as escalating Middle East tensions pushed oil prices and U.S. Treasury yields higher, heightening inflation concerns and reinforcing expectations of elevated U.S. interest rates. Spot gold was down 1.5% at $4,001.17 per ounce by 0926 a.m. EDT (1326) GMT, after falling as much as 2% earlier. U.S. gold futures dropped 1.1% to ...