Precious Metals Preview: COMEX gold and silver recovering momentum in early Asia

COMEX gold and silver futures are recovering some of its lost momentum in early Asia on Tuesday tracking a retracement in dollar overseas. The yellow metal had dropped to its lowest level in nearly a month as dollar index surged above 100 mark on soaring oil prices that could drive inflation and suggesting a hawkish policy action by central banks. Nevertheless, geopolitical tensions involving the United States, Iran, and Israel help limit deeper losses by sustaining demand for safe-haven assets. Currently, the counter is quoting at $5026.60 an ounce, up over half a percent on the day. Silver is also up 0.7% at $81.18 mark.

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