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. US gold futures for August delivery lost 0.3% to $4,039.90. “Gold is declining as the escalating attacks in the Middle East continue to push oil prices sharply higher this week, keeping concerns about inflation alive,” said Jigar Trivedi, a senior research analyst at IndusInd Securities. Oil prices extended gains to a fourth session as the ... (full story)