Precious Metals Preview: Heightened concerns over persistent inflationary pressures undermine gold and silver prices

COMEX gold continues to linger under $4800 mark on Monday morning in Asia amid stalled US?Iran peace talks. Meanwhile, traffic through the strategic waterway remains largely restricted due to Iran?s controls and the US naval blockade, heightening fears of prolonged disruptions. This could in turn lead to higher energy prices heighten concerns over persistent inflationary pressures and a hawkish tone surrounding central banks which undermines precious metal prices. Currently, the counter is quoting at $4737.70 an ounce and silver is trading lower at $76.34 an ounce.

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