Precious Metals Preview: COMEX gold around 2-week low

COMEX Gold prices eased to a two-week low amid improved risk appetite in markets, with expectations that a meeting between the presidents of the US and Russia may lead to a ceasefire in Ukraine, although the outcome is uncertain. The yellow metal is quoting at $3393.00 an ounce. Gold lost around 3% last week. On the economic data front, retail sales in the US increased 0.5% month-over-month in July and increased by 3.9% year-on-year. Export prices in the US rose 0.1% month-over-month in July and prices of goods imported rose by 0.4% in July from the previous month. Month-on-month industrial production in the United States edged down 0.1% in July, while year-on-year industrial production rose by 1.4%. The yield on the 10-year US Treasury note held around 4.3% on Friday. Investors will closely monitor a meeting between US President Donald Trump and Ukrainian President Volodymyr Zelenskiy later on Monday for further developments.

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