Precious Metals Preview: COMEX gold and silver stay pressured; US employment report in focus

COMEX gold and silver futures continue to stay pressured in early Asia on Friday tracing a firm dollar overseas. The dollar index remains on track for a weekly advance as ongoing uncertainty in the Middle East continued to support safe-haven demand the currency. Lack of progress in ceasefire talks between the US and Iran continues to fuel concerns over inflation and expectations of elevated interest rates, in turn weighing on the yellow metal. The US employment report will be in focus later in the day. Currently, the counter is quoting at $4467.10 an ounce, down nearly 1% on the day. Silver futures are also trading lower by 1.5% at $72.78 an ounce.

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