Precious Metals Preview: COMEX gold and silver stay pressured as dollar holds near one-month high ahead of Fed meet

COMEX gold and silver stay pressured even as falling oil prices ease market concerns over rising inflation and further interest rate hikes. However, investors now shift focus to outcome of a two-day FOMC policy meeting that is scheduled to be announced on Wednesday. Meanwhile, dollar is also staying resilient near a one-month high as Trump cautioned that the US remains prepared to resume military strikes if negotiations collapse is also adding weight on the precious metals. Currently, the yellow metal is quoting at $4049.30 an ounce, down0.68% on the day. Silver is also a trading lower at $57.63 an ounce, down nearly 2% on the day.

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