Precious Metals Preview: COMEX gold stays supported above $5K mark amid rising safe haven demand

COMEX gold futures are adding gain above $5K mark on Friday morning in Asia amid growing safe haven demand in the face of rising geopolitical concerns. US President Donald Trump reportedly said on Thursday that Iran had 10 to 15 days at most to strike a deal over its nuclear program and that really bad things will happen if no deal is reached with Iran and the US will get a deal one way or the other. Developments surrounding a potential US-Iran conflict will be closely watched. Alongside, investors will also brace for the preliminary reading of US Gross Domestic Product (GDP) for the fourth quarter (Q4), the Personal Consumption Expenditures (PCE) and the S&P Global Purchasing Managers Index (PMI) data, which are due later on Friday. Currently, the counter is quoting at $5013 per ounce, up 0.37% on the day.

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