Precious Metals Preview: COMEX gold and silver futures pull back from two-week high

COMEX gold and silver futures surrender recent gains and pull back from a two-week high on Wednesday morning in Asia tracking firmness in greenback overseas following renewed tensions between US and Iran. Reported US air strikes on Iran drove oil prices higher, fueling inflation concerns and reinforcing expectations of interest rate hikes that kept dollar index upbeat. Meanwhile, investors also wait for the minutes of the Federal Reserve?s June meeting for additional insight into the policy outlook. Currently, the yellow metal is quoting at $4141.40 an ounce whereas silver futures are also trading lower at $61.16 per ounce.

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