Precious Metals Preview: COMEX gold ticks lower amid dollar rebound

COMEX gold futures are holding around two and half week low on Thursday morning in Asia tracing a rebound in dollar overseas ahead of the crucial Jackson Hole symposium for cues about the central bank's monetary policy stance. Minutes from the Fed?s July meeting showed officials remain more concerned about inflation than labor market risks, with tariffs further dividing the committee. Also, US S&P Global Purchasing Managers Index (PMI) reports for August will take center stage later on Thursday. A hotter-than-expected July PPI reading has provided the recent support to the DXY. Currently, the yellow metal is seen quoting at $3385.10 an ounce, down 0.10% on the day.

Powered by Commodity Insights