Precious Metals Preview: COMEX gold and silver see an uptick in Asia

COMEX gold and silver hold good gains in early Asia on Monday despite soaring oil prices that are stoking concerns over inflation and the prospect of interest rate hikes. Oil prices have now surged about 30% from their July lows, raising the risk that central banks may tighten monetary policy to contain inflation. Currently, the yellow metal is quoting at $4029.20 an ounce, up slightly in morning trades but still trades close to nine-month lows. Silver is also struggling near November lows but is up more than 2% this morning to be trading at $57.43 per ounce.

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