Precious Metals Preview: COMEX gold edges lower in early Asia; Focus shifts to US data

COMEX gold edged lower on Wednesday morning in Asia but stays supported around lifetime highs amid strong safe haven demand in the face of geopolitical tensions. A firm dollar awaiting crucial US data for further cues on interest rates is however seen limiting gains in the counter. US ISM Services Purchasing Managers Index (PMI) report will be published later today and attention will shift to the US December employment report on Friday. Currently, the yellow metal is quoting at $4486 per ounce, down 0.22% on the day. On the MCX, gold futures are seen above Rs 139000 per 10 grams.

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