Precious Metals Preview: COMEX gold under pressure as DXY regains appetite ahead of Trump?s Iran ultimatum

COMEX gold is seen under pressure as dollar index regains momentum amid growing tensions between US and Iran. Hopes for an agreement between the US and Iran are fading ahead of President Donald Trump?s Tuesday evening deadline to reopen the Strait of Hormuz. Further war-led destruction could lead to a more severe surge in energy prices that would revive inflationary pressures and force central banks to push up interest rates. Dollar is gaining appetite ahead of Tuesday deadline, weighing on precious metals. The yellow metal is currently quoting at $4670.80 an ounce, down 0.26% on the day. On the MCX, gold is trading under Rs 150000 per 10 grams.

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