Precious Metals Preview: COMEX gold and silver futures see good rebound in early Asian trades

COMEX gold and silver futures register a good rebound on Wednesday morning in Asia as dollar pulls back amid reports that the US was pursuing talks with Iran to end the conflict and help reduce the impact of higher energy prices on inflation. Oil prices also fell amid hopes of talks between the two nations. Gold advanced nearly 4% this morning to $4573.10 an ounce, following a sharp slide to a four-month low near $4,100 this week. Silver futures are also up close to 6% at$73.46 per ounce. Nevertheless, uncertainty and persistent Middle East tensions could keep the yellow metal, a traditional safe-haven asset supported in the near term. On the other hand, prospect of higher interest rates as a result of the war and ensuing inflation could cap gains in the yellow metal.

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