Precious Metals Preview: COMEX gold slips under $3800 mark

COMEX gold is seen coming off record high levels in early Asia on Thursday as Fed Powell sounded a cautious tone on further rate cuts. Powell said on Tuesday that the US central bank would continue to balance concerns over labour market weakness with worries about inflation, while Fed officials took stances on both sides of the monetary policy path divide. Geopolitical uncertainty however is however keeping the yellow metal supported near lifetime highs. NATO reportedly warned Russia on Tuesday that it would use all necessary military and non-military tools to defend itself as it condemned Moscow for violating Estonian airspace in a pattern of increasingly irresponsible behaviour?. Currently, the counter is quoting at $3768.90 an ounce, marginally up on the day.

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