Precious Metals Preview: COMEX gold attempts recovery from 2-month low

COMEX gold futures are attempting recovery from a two-month low as dollar index is losing momentum from sharply higher levels registered yesterday on renewed ceasefire talks between the war nations. The precious metal rebounds after reports that the United States (US) and Iran had reached a ceasefire extension agreement but stays largely bounded amid concerns that the US President is yet to approve the terms. The dollar index that measures the greenback against a basket of currencies eased back near 99 mark while the yellow metal is quoting largely unchanged at $4527.10 an ounce. Silver is also up marginally at $75.84 per ounce. Meanwhile, data released yesterday showed that the US Personal Consumption Expenditures (PCE) Price Index climbed by 3.8% on year in April, versus 3.5% prior.

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