Precious Metals Preview: COMEX gold holding around record high; All eyes on Fed decision

Gold is staying put around record high levels on Tuesday morning in Asia with all anticipation glued to Federal Reserve?s decision on interest rates. Weakness in dollar amid expectation of a September rate cut by Fed is also keeping the yellow metal supported. The dollar index that measures the greenback against a basket of currencies is quoting under 97 mark. Besides, reports on US retail sales and industrial production, due later today, will be watched for further insights into the strength of the economy. COMEX gold is currently trading at $3718.80 an ounce, down marginally on the day.

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