Precious Metals Preview: COMEX gold seen supported by dollar weakness

COMEX gold continues to track weakness in dollar amid increasing prospects of a Federal rate cut amid soft US inflation data. Further cues will be taken from the US Producer Price Index (PPI) and the weekly Initial Jobless reports, which will be released later on Thursday. Moreover, the yellow metal found support from geopolitical risks ahead of Friday?s meeting between US President Donald Trump and Russian President Vladimir Putin. Trump reportedly warned that Russia would face ?very severe consequences? if Putin refuses to end the Ukraine war. The counter is currently seen quoting at $3405.10 an ounce, down 0.1% on the day.

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