Precious Metals Preview: COMEX gold extends downside to 3-week low

COMEX gold extends downside to a three-week low in early Asian trades on Tuesday owing to reduced safe haven demand for the yellow metal as trade tensions seemingly eased. Firmness in dollar overseas is also contributing to weakness in the precious commodity. The dollar index is hovering above 98 mark as investors assessed recent trade deals between the United States, Japan, and the European Union. Investors now turn focus to the outcome of a two-day FOMC policy meeting on Wednesday for further cues. The counter is currently quoting at $3310.20 an ounce, without much change on the day.

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