Precious Metals Preview: COMEX gold retreats from near 3-week high

COMEX gold is retreating from a near three-week high on Thursday morning in Asia as dollar regained momentum above 98 mark. The dollar index stayed upbeat ahead of US Gross Domestic Product (GDP) and Personal Consumption Expenditures (PCE) inflation data for clues on interest rate cuts. However, concerns about the Federal Reserve's (Fed) independence lingered after US President Donald Trump fired Fed Governor Lisa Cook over allegations of mortgage borrowing misconduct. New York Fed President John Williams on Wednesday reportedly emphasized the importance of central bank independence as Trump looks to exert control over monetary policy. Currently, the yellow metal is quoting at $3446.00 an ounce, down 0.08% on the day.

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