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 $4,005.20. Oil prices rose over 1% as concerns over Middle East energy supplies increased after Iran asked Yemen’s Houthis to stand ready to close the Red Sea oil route if the U.S. strikes Iranian power infrastructure. Higher oil prices stoke inflation concerns, raising ... (full story)