Precious Metals Preview: COMEX gold at two-week high as dollar retreats below 100 mark

COMEX gold extended upside to a two-week high on Wednesday morning in Asia as dollar reversed well below 100 mark. The US Dollar Index (DXY) is down 0.15, testing below the 100.00 handle for the first time since mid-March, snapping a five-session winning streak. Markets tilted toward risk appetite after Iranian state media reported that Tehran is prepared to end the war, provided specific conditions are met and all attacks cease. Meanwhile, data yesterday showed the Conference Board's Consumer Confidence Index edged up to 91.8 in March, beating the 87.8 consensus but doing little to shift sentiment in a session dominated by geopolitics. The dollar index hovered around 99.64 on the first trading day of April, having risen 2.3% in March.

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