Precious Metals Preview: Gold lacks luster amid fading safe haven appetite

COMEX Gold futures are attempting recovery after sliding to a near three-week low in early Asian trades on Monday, as easing tariff concerns weighed on safe-haven appetite. Optimism over US trade deals, including a potential pact with the EU following an agreement with Japan, continued to shape market sentiment. EU and the US have reached a framework trade agreement that sets a blanket 15% tariff on goods traded between them. Meanwhile, a mild pullback in dollar index is keeping the yellow metal supported although the index stays above 97 mark ahead of the US Fed monetary policy decision this week. The US Federal Reserve (Fed) has held its benchmark interest rate between 4.25% and 4.5% this year. Currently, the counter is quoting at $3335.50 an ounce.

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