Precious Metals Preview: COMEX gold extends upside in early Asia

Gold extends upside on Tuesday morning in Asia tracking continued weakness in dollar overseas amid reported speculation of Trump electing a new Federal chair later this year. Moreover, the approval of Trump's ?One Big Beautiful Bill? is likely to increase the fiscal deficit by a substantial $3.8 trillion, which could further weaken the greenback and boost the appetite for the precious metal. However, easing geopolitical tensions in the Middle East, along with the likely announcement of trade deals, capped sharp upside in the yellow metal. Currently, the counter is quoting at $3329 an ounce, up 0.64% on the day. Investors now await the US job openings data, the ADP employment report, and the non-farm payrolls report, due this week, for more clues on the Fed?s policy path. MCX gold futures are trading around 96k mark.

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