Precious Metals Preview: COMEX gold pulls back although sustained safe haven demand limit losses

Precious metals witnessed a minor pull back in early Asian trades on Thursday following a safe haven led rally in the previous session. Escalating geopolitical tensions between the United States (US) and Iran and ongoing uncertainty regarding US tariff policies are boosting demand for the metals. Trump reportedly raised the newly introduced Section 122 tariffs to 10%, despite earlier threats to lift them to 15%, after the Supreme Court struck down a series of country-specific tariffs enacted under IEEPA 10 months ago. Currently, the yellow metal is quoting at $5206.10 an ounce, down 0.44% on the day. Silver futures are down more than 2% at $89.48 an ounce.

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