Precious Metals Preview: Gains from weak dollar offset by rebounding oil prices

Precious metals are holding moderate gains in early Asian trades on Tuesday tracking a weak dollar overseas although rebounding oil prices are likely to restrict much gain in the counters. US dollar fell to its lowest level since mid-June after authorities intervened in the foreign exchange market to support the yen. Investors are now awaiting US labor market reports, including Friday's nonfarm payrolls for further clues on the Federal Reserve's policy path. Meanwhile, US President Donald Trump said fresh talks with Iran would begin on Monday after holding off on a new attack, although Iran denied that negotiations with Washington were underway. COMEX gold is up 0.62% on the day at $4116.00 an ounce while Silver is up 2% at $59.02 per ounce.

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