Precious Metals Preview: Gold and silver trade with negative bias in early Asia

COMEX gold and silver futures stalled recovery witnessed in the previous session and continue to trade with negative bias in early Asia on Tuesday. Slight meltdown in dollar under 99 mark after US President Donald Trump announced he was delaying a planned military strike on Iran supported the metals. According to reports, Trump called off the Tuesday attack following appeals from Persian Gulf allies requesting more time to negotiate a diplomatic resolution. Nevertheless, hawkish stance from the US Federal Reserve and higher treasury yields are keeping DXY supported which in turn could cap upside for yellow metal which is currently quoting at $4552.40 an ounce. Silver is down 0.8% at $76.83 an ounce.

Powered by Commodity Insights