Precious Metals Preview: COMEX gold and silver seen supported as dollar retreats

Weak US dollar overseas is seen supporting gains in COMEX gold futures. Improving risk sentiments amid expectation of US and Iran peace deal is waning demand for the safe haven asset. The dollar index is seen trading under 99 mark at 98.98. Washington and Tehran have reportedly signaled progress in talks to end the war, even as US President Donald Trump said he won?t ?rush? into an agreement. The release of the US Personal Consumption Expenditures (PCE) - Price Index report, which is due later on Thursday will be closely watched. Currently, the yellow metal is quoting at $4559.30 an ounce. Silver was up over 2% at $77.97 an ounce.

Powered by Commodity Insights