Precious Metals Preview: Gold and Silver futures pullback as DXY stays firmly above 100 mark

COMEX gold and silver futures are pulling back sharply on Monday as dollar index continues to stay firmly above 100 mark assessing geo-political situation in Middle East. As per media reports, US President Donald Trump over the weekend threatened strikes on Iran if Hezbollah keeps attacking Israel, raising concerns about progress for peace talks between Washington and Tehran. Markets now look ahead to the week?s release of the US PCE price index, the Federal Reserve?s preferred measure of inflation after Fed left rates unchanged last week. Currently, gold and silver futures are trading lower by around 1% at $4208.30 an ounce and $65.69 per pounce respectively.

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