Precious Metals Preview: COMEX gold holds above $4,500 an ounce

COMEX gold futures inched up in early Asia on Thursday on hopes that US Iran deal was proceeding well. US President Donald Trump reportedly said on Wednesday that the US was in the ?final stages? with Iran, sparking hopes that the deal was close to materializing. However, developments surrounding stalled US-Iran peace negotiations and threats to the Strait of Hormuz continue to be watched. Currently, the yellow metal is quoting at $4538.20 an ounce, up marginally on the day. Meanwhile, silver futures continue to stay pressured at $75.85 an ounce. From the US, minutes from the Federal Reserve?s latest policy meeting showed that most officials believe a rate increase this year could still be warranted if inflation remains above the Fed?s 2% target.

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